D1 - Price reached a very strong resistance zone formed by the 100% fibonacci expansion level of the first wave we have and an important resistance level. Bearish divergence.
H4 - Price is moving inside a bearish channel, The top of this channel coincides with the daily resistance zone and also we have the 80 psychological area around the same zone. Price has bounced from this important resistance zone and is moving lower.
H1 - Double wave up, the 100% fibonacci expansion of the first wave we have coincides with the important resistance zone. We had a bearish divergence and an uptrend line breakout.
Until this resistance zone holds my short term view remains bearish here.
H4 - Price is moving inside a bearish channel, The top of this channel coincides with the daily resistance zone and also we have the 80 psychological area around the same zone. Price has bounced from this important resistance zone and is moving lower.
H1 - Double wave up, the 100% fibonacci expansion of the first wave we have coincides with the important resistance zone. We had a bearish divergence and an uptrend line breakout.
Until this resistance zone holds my short term view remains bearish here.
Comment:
This sell setup moved perfectly as per my plan and has provided us wonderful profits!