This was entered at the 4H close candle at 10am.
1M
Last Month’s candle stick rejected a key monthly resistance level of 1.1450. EMA’s pointing downwards
1W
Last week’s candle closed as a shooting star, which rejected both downwards facing EMA’s.
1D
4 days in a row, price has tested a key daily resistance level of 1.13939, which looks as if it gave way today. EMA’s are crossing back to the down side. A close below the EMA today would be a good signal that more bearish momentum to follow. A higher daily fib is also respected according to my fib rules.
4H
My 4H fib has also been hit, we saw price consolidate for a while around my preferred fib zone, before breaking my CTL. EMA’s crossed to the downside also. Target set at -27 fib level.
1M
Last Month’s candle stick rejected a key monthly resistance level of 1.1450. EMA’s pointing downwards
1W
Last week’s candle closed as a shooting star, which rejected both downwards facing EMA’s.
1D
4 days in a row, price has tested a key daily resistance level of 1.13939, which looks as if it gave way today. EMA’s are crossing back to the down side. A close below the EMA today would be a good signal that more bearish momentum to follow. A higher daily fib is also respected according to my fib rules.
4H
My 4H fib has also been hit, we saw price consolidate for a while around my preferred fib zone, before breaking my CTL. EMA’s crossed to the downside also. Target set at -27 fib level.
Comment:
Stop Loss has been moved down to take some profit
Trade closed: stop reached:
Profit Taken