Reasons to go short: Monthly tf price is in a bearish trend rejecting 20 SMA and 0.764 on fibs Currently trading below major level of 1.80000
Weekly:Last weeks candle closed as a bearish engulfing respecting 50SMA as a level of resistance also closing below 1.80000 as long as price stays below that level will look to short
Daily:Price broke previous HL, also tried to push back above 1.80000 but failed as buyers were met with to much selling pressure
H4:Price is giving me clear bearish market structure also trading below both my moving averages also had a 0.5 retracement respecting broken support now holding as a level of resistance Looking for entries also got a strong bearish engulfing on the previous candle will look for a BOS on lower tfs to get my entry 1st target -0.27 extension level
What I dont like Daily tf price did respect moving averages as a form of support and failed to break