Reasons for sell:
- Divergence forming on the 4H
- Potential completion of wave 3 in this part of the correction
TP1 - Closest trend line (orange line).
TP2 - If orange line is broken and price consolidates within that area, I would look for a further short to the larger timeframe trend line (blue line).
- Divergence forming on the 4H
- Potential completion of wave 3 in this part of the correction
TP1 - Closest trend line (orange line).
TP2 - If orange line is broken and price consolidates within that area, I would look for a further short to the larger timeframe trend line (blue line).
Comment:
Closed position for +1. Looking for a break of the consolidation. The fib 38.2 of the last swing low to high seems to be holding as support at present. If your bias is short, potentially look for a close below and re-test of that level.