20-5-2020 - 15M EMA C FB - 4H FLB 70.5 Rejection
EMA C FB - 4H FLB Fib 70.5 Bounce - Overall Bearish Trend - EMA Cross - Declining EMA 14
A downside break of structure (32 pips) with price previously rejected the 4H FLB 70.5 level and formed a new Lower High formation. Price has formed an EMA Cross with a LL formation. I'll be looking for a short entry on the Fib region which has confluence with the EMA 14 & SMA 50, Institutional level 1.225 and 1H Bearish Engulfing.
Bias = Bearish
Structure = LL formation, corrective to form LH
Setup = Yes, EMA C FB
Confluence = EMA C FB, 4H FLB Fib 70.5 rejection, Overall Bearish Trend, EMA Cross, Declining EMA 14, Institutional Level 1.225
A downside break of structure (32 pips) with price previously rejected the 4H FLB 70.5 level and formed a new Lower High formation. Price has formed an EMA Cross with a LL formation. I'll be looking for a short entry on the Fib region which has confluence with the EMA 14 & SMA 50, Institutional level 1.225 and 1H Bearish Engulfing.
Bias = Bearish
Structure = LL formation, corrective to form LH
Setup = Yes, EMA C FB
Confluence = EMA C FB, 4H FLB Fib 70.5 rejection, Overall Bearish Trend, EMA Cross, Declining EMA 14, Institutional Level 1.225
Trade closed: stop reached:
Both position hit SL
-2%
-2%
