Upon producing a new low price has shown bearish continuation than a bullish turnout that was outlined in my previous post. A pull back into the 20 ema, falling trend line and 0.618 Fibonacci level, and closing as a high test shows further downside to follow in price action.
Bullish divergence, a visible caveat, however, is suggestive of possible further bullish momentum.
entry - below low of high test bar
stop loss - above high of high test bar
target - most recent low or lower
Bullish divergence, a visible caveat, however, is suggestive of possible further bullish momentum.
entry - below low of high test bar
stop loss - above high of high test bar
target - most recent low or lower
Trade closed: stop reached