I thought 12H 233EMA was going to be tested, but there's a good chance this channel is breaking downwards till 7K area.
After the last up, middle part of channel was a great resistance, and bull volume never appeared. After 4 touches, channels can break easily and next support area is around 7K.
Indicators:
- MACD is about to cross bearish in bearish side.
- RSI has made a double top bearish divergence below 50.
- Stoch crosses again bearish and there's room till oversold area
- ADX is still on sideways (continuation pattern) but DI- is dominating now and can easily begin a bear tred.
In this case 55EMA was enough to stop the bulls.
I am going to wait to MACD signal on 4H crosses Zero line. Target 7K area
Not advice, Just my journey!
After the last up, middle part of channel was a great resistance, and bull volume never appeared. After 4 touches, channels can break easily and next support area is around 7K.
Indicators:
- MACD is about to cross bearish in bearish side.
- RSI has made a double top bearish divergence below 50.
- Stoch crosses again bearish and there's room till oversold area
- ADX is still on sideways (continuation pattern) but DI- is dominating now and can easily begin a bear tred.
In this case 55EMA was enough to stop the bulls.
I am going to wait to MACD signal on 4H crosses Zero line. Target 7K area
Not advice, Just my journey!
Comment:
Confluence of S/R + FIbonacci + EMAs on different TF tell me that a good entry should be around 8100 area.
Comment:
Breakout happened after testing 8K. I couldn't fill my entry but this is trading!
Breakout happened after testing 8K. I couldn't fill my entry but this is trading!
