Broken structure on UC this morning followed by 61% pullback to 1h structure. Pivot point also in this key level. Risk manage short positions if hourly candle cannot break new high.
Confluences:
- Structure retest
- Pivot point
- Fib level
- EMA/SMA bearish
Alternatively, UC could rally into a sellers stop hunt to test the next fib level/1h key level where strong bearish momentum was established and original break of structure happened.
Confluences:
- Structure retest
- Pivot point
- Fib level
- EMA/SMA bearish
Alternatively, UC could rally into a sellers stop hunt to test the next fib level/1h key level where strong bearish momentum was established and original break of structure happened.