Hello traders! We see the trend being broke on the smaller time frames like the 15 minute. It has passed the 50 ema as well as the 25 ema on the 1 hour.
We see it was a bullish ride but now the bears are in control of the market. There was also a bearish engulfing candle for the entry so now we ride it all the way down.
It is overbought on the larger time frames and we can expect it to respect the support level when it reaches that zone.
We see it was a bullish ride but now the bears are in control of the market. There was also a bearish engulfing candle for the entry so now we ride it all the way down.
It is overbought on the larger time frames and we can expect it to respect the support level when it reaches that zone.
Trade closed: stop reached:
Stop reached: 35 pips loss