From the daily chart
Bearish engulfing candles followed by Pin Bar.
Rejection from 61.8 level.
Divergence is evidence on Stochastics.
From the 4 Hr & 1 Hr
Divergence evidence on both Stochastics and RSI.
Tripe top has formed and unable to break above the 61.8 level.
Risk Reward
Based on a Sell entry when price breaks out of the consolidation box and assuming a stop loss at the top of the box then;
1:3 is possible to the bottom level of structure.
1:5 is possible to the bottom of the 61.8 level leg D
Bearish engulfing candles followed by Pin Bar.
Rejection from 61.8 level.
Divergence is evidence on Stochastics.
From the 4 Hr & 1 Hr
Divergence evidence on both Stochastics and RSI.
Tripe top has formed and unable to break above the 61.8 level.
Risk Reward
Based on a Sell entry when price breaks out of the consolidation box and assuming a stop loss at the top of the box then;
1:3 is possible to the bottom level of structure.
1:5 is possible to the bottom of the 61.8 level leg D
Comment:
Price has started a bearish move
Comment:
Still making good moves downwards