WEEKLY:
Last weeks bullish momentum was quashed with a week of bearish pressure failing to make a new high
DAILY:
We’ve seen a break and retest of the bottom of the rising wedge and MACD is starting to turn, indicating lower prices may form.
4HR:
Moving down to the 4hr, we can see a clearer picture of the re-test and rejections below the 200, 50 and 20 ema zones.
1hr:
Further bearish confirmation of a smaller trend line connecting the swing highs. Taking a 38.2% fib entry.
Last weeks bullish momentum was quashed with a week of bearish pressure failing to make a new high
DAILY:
We’ve seen a break and retest of the bottom of the rising wedge and MACD is starting to turn, indicating lower prices may form.
4HR:
Moving down to the 4hr, we can see a clearer picture of the re-test and rejections below the 200, 50 and 20 ema zones.
1hr:
Further bearish confirmation of a smaller trend line connecting the swing highs. Taking a 38.2% fib entry.
Trade closed: target reached:
Target reached.