At the start of the previous week, price has been very Bearish as it continues to the downside with strong Bearish Momentum and forming a new LL. Then on Thursday and Friday, price pivoted from 23000 level as it retrace higher to retest the resistance. Follow today's Asian Open, Price has approached the 4H Fib Short region which has confluence with the 4H Resistance and Institutional Level 24000.
Bias = Bearish
Structure = Corrective, expecting Bearish Continuation
Setup = yes, 4H MSB
Entry = Wait for clear bearish momentum from the Fib region, enter on Lower TF setup.
Bias = Bearish
Structure = Corrective, expecting Bearish Continuation
Setup = yes, 4H MSB
Entry = Wait for clear bearish momentum from the Fib region, enter on Lower TF setup.
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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.