I've placed a short from 4080-4110 to test if we have a ABC. I dont believe that the retracement we had was a proper ABC. So i think 3400 Area is very likely for our C.
RSI is showing us that we have a bearish divergence on the 4H. MACD is also curving down on the 4H. So this support the bearish outcome.
If it breaks above 4140. This theory would be invalidated.
RSI is showing us that we have a bearish divergence on the 4H. MACD is also curving down on the 4H. So this support the bearish outcome.
If it breaks above 4140. This theory would be invalidated.
Trade closed: target reached
I recommend putting up a buy at 3445 too.
Stoploss at: 3420.
Take profit at 4100.