Price is at 4 hour supply and put in a bearish engulfing at the zone , expecting a pull back to demand / next level of 4 hour structure
if price breaks the red MA i will be looking to go short and hold for a swing , and adding to my position on pull backs.
Nice short opportunity here for a pull back to the base line (burgundy line). MACD showing bearish divergence and a bearish crossover, RSI also has bearish divergence looking for the RSI to move towards the 50 mark to signal bearish momentum. Divergence on with the price and the conversion line (blue line) as the conversion line shows momentum to the upside as...
1. Head and shoulders pattern. 2. Ichimoku cloud crossover , price now below cloud.