Description
⋅ If the 4h candle closes below $2770 (4h SSB + 4h Tenkan), price would likely plunge inside the Kumo to meet its Kijun around $2648.
By doing so it would also break the uptrend channel that support the rally since the end of March
Please note the concomitance of RSI and MACD that are close to show bearish signals.
Those bearish signals on the 4h chart might be a good opportunity to take a daily swing short on the markets.
If you want to take position, two entry points are possible:
- 4h candle closes below $2770
- 4h candle closes below $2648
Make sure RSI and MACD confirm with bearish signals too.