– Time = 2H
– Structure = Downtrend
– Pattern = Downtrend channel
– Tendency = Downtrend
– Monthly Candle retests Fibonacci resistance.
– 4hr Chart indicates an inverse hummer retested at the dynamic resistance level
– Price created a downtrend channel forming LH and LL.
– Hence the EMA 50 day is below the price, my analysis indicates a BEARISH MARKET
-----------------
Disclaimer: Forex trading and trading in other leveraged products involves a significant level of risk and is not suitable for all investors.
– Structure = Downtrend
– Pattern = Downtrend channel
– Tendency = Downtrend
– Monthly Candle retests Fibonacci resistance.
– 4hr Chart indicates an inverse hummer retested at the dynamic resistance level
– Price created a downtrend channel forming LH and LL.
– Hence the EMA 50 day is below the price, my analysis indicates a BEARISH MARKET
-----------------
Disclaimer: Forex trading and trading in other leveraged products involves a significant level of risk and is not suitable for all investors.
Trade closed: target reached
