Lower timeframe, Price looks likely to test its upper weekly zone before we see a bigger move to the downside
Wait for price to close below the daily 50EMA before entering short
We see price stalled at its weekly 61.18% fib, we can now expect price to make a continuation to the bottom of its weekly range. On the daily we can see price breaking its trend-line, my entry will be to wait for a pullback before entering short
Nice setup coming into play over the next couple of weeks, updates to follow
Nice short position taken, bearish engulfing close on the daily
Looking at the weekly, we can see price forming a nice wedge reversal pattern, and I am anticipating a higher timeframe push to the upside, if we look at the 4hr price rejected the 1.12155 weekly lows, after a strong sell off, however I don't think this is enough for price to break to the upside, just yet. Price is now showing signs of a reversal at the 78.6 fib,...