On the 24th we formed a Small shooting star (although it could be argued it did not break previous highs so would be invalid), followed by an inside bar, then today we have seen a move to previous highs which formed after the Fed meeting. All of these highs have failed to close above the .500 fib.
On the 4hr chart we have seen an impulsive move back down forming a bearish shooting star/engulfing bar on the daily and '3 black crows' on the 4hr chart. Price is now testing resistance turned support.
I think we will see a pull back into todays engulfing bar by 50% then another impulsive move south. I will be looking to short from around 1.09100.
On the 4hr chart we have seen an impulsive move back down forming a bearish shooting star/engulfing bar on the daily and '3 black crows' on the 4hr chart. Price is now testing resistance turned support.
I think we will see a pull back into todays engulfing bar by 50% then another impulsive move south. I will be looking to short from around 1.09100.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.