For several days price has been below Moving Average 50 which is a resistance level
now. A bearish
candle, which closed out of Bollinger Bands
, give us a signal for possible down movement. We have Bollinger Band
expansion with MACD
falling histogramme which confirm short trades. Also ADX
starts rising and it's one more confirmation for down movement. It's time for searching for entry levels based on hourly charts. Stop orders should be placed above MA50 and profit target is near MA100. The reversal zone can be a place where price will bounce and continue the up trend.