The 30 periods EMA
( Exponential Moving Average
) is indicating the prices will continue going down for the following hours. Although the prices are extended from their "normal behavior" and even they always return to this behavior, mentioned before (which one is indicated for 30 periods EMA
) ,there are another reason to support the prices are extended downward and this is due to now it looks like the last hours a new support has formed.. Moreover, the leaning resistance, match the maximum and the close prices, this line could be taking the prices until match to the support.
The position for the following hours: SHORT
Take profit: over the support.. around 1632 (it's up to your risk aversion)