MACD histogram is declining, buyers close to crossing under sellers.
Bearishly engulfing candlesticks.
Chose target based on fibonacci retracement tool, and the approximate area where the 13 EMA could be (purple EMA) which it could touch down to. Conservative, but seems likely given the supporting indicators. Because of how bearish the indicators are, I am okay with a very tight stop loss, but we will see if that was a good idea soon enough.
What do you think?
Comment
Update: perfect touch ;) and we're OUT!
Comment
Might even be seeing another leg down if this is a true eliot's wave ABC correction:
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.