Test monthly resistance level.
50% retracement.
4hr high test candle.
If we get a bearish close on the next 4hr candle this will be taken short. Targets are at 50% and 61.8% of previous swing.
Market Conditions:
Downtrending market. Long bearish move without any real pullbacks before now. Double top + daily spinning top at 61.8 retracement.
Stops and Targets
Stops at 44.99 above the 78.6 retracement.
Target at 37.45 - just shy of the 1.27 extension.
Let's see how this plays out - this is my first "public" idea here at Tradingview and yes, I...
Price broke through the trendline on the 4hr with a large bearish candle. Price is now in a sell zone, if we get a retest of the trendline along with previous structure I am looking to take this pair short. For more conservative traders a solution is to wait for the daily candle to close below the trendline.
Target is the 1.618 Extension to the downside, which...
