1M
Monthly level of 1.14500 is holding strong, last month closed as a doji. If price action stays where it currently is or lower a potential for a morning star could be formed. EMA pointing to the down side.
1W
Last week’s bearish engulfing taking out multiple candles and rejected the weekly level, and closed below the downwards facing EMA’s.
1D
Yesterday’s candles closed below a key daily level of resistance, which has now been tested by 4 days’ worth of candles. EMA is pointing downwards.
4H
Price has pulled back from the latest of a series of lower highs and lower lows. This pull back as hit my preferred fib area, followed by a hanging man candle stick formation. This same hanging man has rejected a key daily resistance level, this followed by a doji which closed below the Red EMA.
Monthly level of 1.14500 is holding strong, last month closed as a doji. If price action stays where it currently is or lower a potential for a morning star could be formed. EMA pointing to the down side.
1W
Last week’s bearish engulfing taking out multiple candles and rejected the weekly level, and closed below the downwards facing EMA’s.
1D
Yesterday’s candles closed below a key daily level of resistance, which has now been tested by 4 days’ worth of candles. EMA is pointing downwards.
4H
Price has pulled back from the latest of a series of lower highs and lower lows. This pull back as hit my preferred fib area, followed by a hanging man candle stick formation. This same hanging man has rejected a key daily resistance level, this followed by a doji which closed below the Red EMA.
Trade closed: stop reached:
Stop Loss Hit