A few very favorable signs here for bears: price is pulling back to a resistance level
, where it is forming a reversal candlestick
pattern; this is also where the 200 EMA
is, and where a 61.8% Fibonacci retracement
level finds itself if one uses the most recent swing high and low points on the daily chart
. That's my cue to enter! My entry order is at 4530, with my stop at 4680; my target profit is the recent swing low at 3808.
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