1M
Last Month’s candle tested both the downwards facing EMA alongside weekly resistance at 126, then closed with a bearish engulfing, after rejecting of 124 support.
1W
Price closed in between the downwards facing EMA’s, this week we have currently gone up to rest a key level at 125.640.
1D
Awaiting the next higher low in the formation, I believe this has now been formed with the Tweezer top with today’s candle close. This same lower high as rejected my preferred fib level, closing in between the downwards facing EMA.
4H
EMA have now crossed with the price closing below my CTL. Few candles before this we have seen a hanging man followed by a bearish engulfing, this also happened around the previous day’s high, possible indication that momentum is turning to the down side.
Last Month’s candle tested both the downwards facing EMA alongside weekly resistance at 126, then closed with a bearish engulfing, after rejecting of 124 support.
1W
Price closed in between the downwards facing EMA’s, this week we have currently gone up to rest a key level at 125.640.
1D
Awaiting the next higher low in the formation, I believe this has now been formed with the Tweezer top with today’s candle close. This same lower high as rejected my preferred fib level, closing in between the downwards facing EMA.
4H
EMA have now crossed with the price closing below my CTL. Few candles before this we have seen a hanging man followed by a bearish engulfing, this also happened around the previous day’s high, possible indication that momentum is turning to the down side.
Trade closed: stop reached:
Stop Loss hit