EMA C FB - 4H FLB Fib 70.5 Bounce - Overall Bearish Trend - EMA Cross - Declining EMA 14
A downside break of structure (32 pips) with price previously rejected the 4H FLB 70.5 level and formed a new Lower High formation. Price has formed an EMA Cross with a LL formation. I'll be looking for a short entry on the Fib region which has confluence with the EMA 14 & SMA 50, Institutional level 1.225 and 1H Bearish Engulfing.
Bias = Bearish
Structure = LL formation, corrective to form LH
Setup = Yes, EMA C FB
Confluence = EMA C FB, 4H FLB Fib 70.5 rejection, Overall Bearish Trend, EMA Cross, Declining EMA 14, Institutional Level 1.225
A downside break of structure (32 pips) with price previously rejected the 4H FLB 70.5 level and formed a new Lower High formation. Price has formed an EMA Cross with a LL formation. I'll be looking for a short entry on the Fib region which has confluence with the EMA 14 & SMA 50, Institutional level 1.225 and 1H Bearish Engulfing.
Bias = Bearish
Structure = LL formation, corrective to form LH
Setup = Yes, EMA C FB
Confluence = EMA C FB, 4H FLB Fib 70.5 rejection, Overall Bearish Trend, EMA Cross, Declining EMA 14, Institutional Level 1.225
Trade closed: stop reached
Both position hit SL -2%
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Related publications
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.