Just making this short with key points as reminders:
> 10 EMA still not broken
> 21 EMA on daily and 50 EMA on the 4 HRLY still resistance
> We had the death cross and not the goldern cross. Refer to 2017 trend to see its relevance and the 100 daily EMA
> Trend is still downwards
> Smart money still waiting patiently indicated by volume (refer to previous volumes with blue markers)
> Daily RSI still in the bearish zone
> Fib Ring set barrier\resistance
Conclusion:
If you catch these bounces, shorting is still the way and take your profits with set targets.
Me, I missed this bounce and hence waiting it out as 9700 is a resistance I don't think it will pass.
4 HRLY Chart, close up: Blue lines are confirmed levels for resistance and support
> 10 EMA still not broken
> 21 EMA on daily and 50 EMA on the 4 HRLY still resistance
> We had the death cross and not the goldern cross. Refer to 2017 trend to see its relevance and the 100 daily EMA
> Trend is still downwards
> Smart money still waiting patiently indicated by volume (refer to previous volumes with blue markers)
> Daily RSI still in the bearish zone
> Fib Ring set barrier\resistance
Conclusion:
If you catch these bounces, shorting is still the way and take your profits with set targets.
Me, I missed this bounce and hence waiting it out as 9700 is a resistance I don't think it will pass.
4 HRLY Chart, close up: Blue lines are confirmed levels for resistance and support
Comment:
Bearish divergence...it seems this is as high as its going to go for the next few hours or more.
Comment:
For the record, this was a BULLISH AB=CD Pattern
Comment:
Chart update: No change to the resistances... however the target has moved sideways (blue triangles).
Comment:
Daily chart:
Trade closed manually:
:(
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This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
