JavadMoradi24

JavadMoradi24

The price has crossed the kumo cloud and now is below the cloud, in the meanwhile the baseLine and Conversion Line had a crossover as well as the fact that EMA50 has been crossed too and now is acting as a resistance, on the 4H chart we can see an obvious trendline breakout which gave us lower highs and lower lows plus the FIB 0.618 (Golden Number) happens to be...

JavadMoradi24

The price has crossed the kumo cloud and now is below the cloud, in the meanwhile the baseLine and Conversion Line had a crossover as well as the fact that this area has been a key area as support and resistance for multiple times and now seems to be acting as a resisitance plus EMA50 has been crossed and now is acting as a resistance combined with the key area...

JavadMoradi24

As it is visible on the chart the price has reached to a key area which has been held as support and resistance multiple times and price had reactions to it, we can also see that based on Elliot Wave the last wave looks to be completed and we are gonna see correction, as we can see the RSI is showing the bulls are exhausting too since even though in the trend we...

JavadMoradi24

In the 4H timeframe price has had a bearish breakout, losing momentum and getting lower lows in an uptrend which is the first reason to be in a short position, on the other hand in 1H timeframe and the small uptrend there is another bearish breakout which can be considered as confirmation. Plus this area has been a key area which looks to be acting as a strong...

JavadMoradi24

As we can see in the chart there is a strong resistance level in this area which price has reactioned multiple times before which right now happens to be where EMA50 is placed too which makes it even a stronger resistance. A false breakout happened but since price action is showing it has lost momentum and in shorter timeframe's uptrend we are getting lower lows...

JavadMoradi24

Everything's on the chart, there is a clear uptrend going on which seems it has reached to the trendline and is ready to pullback, which gives us a small short opportunity if the support holds otherwise could go lower.