Possible start of downwards trend once MA 20 crosses MA 50 (H1).
This will be the start of wave 1.
Short trend will continue up to around the support area (~114.6 - 114.7) before bouncing off to create wave 2.
This will be the start of wave 1.
Short trend will continue up to around the support area (~114.6 - 114.7) before bouncing off to create wave 2.
Note
[img]checking on the H1, seems like it is now getting ready for wave 4. Better place some trailing stops to secure profit. Then re-enter on wave 4.
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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.