Lower low. Expecting a lower high on these subwaves of the structure.
Broke a solid horizontal support. Shorting the re-test of this support now turned resistance.
Strong bearish momentum concludes we can use the ribbons and resistance level to determine stop-loss level.
Seems reasonable looking on the 1-day too.
This is not financial advice.
Here momentum has switched according to the ribbon EMA, this has not been broken since January 2016 before this tremendous run.
On the 1 day we are seeing a price structure reversal, with lower highs and lower lows being formed on the short term price action.
The key support level is 2580, if this is broken- all bets are...
Cross above the Ribbon MA, watching for retest.
No test of 125 EMA yet.
Hidden bearish divergence providing small pullback giving entry opportunity.
This post is NOT Financial advice and is purely educational, any losses cannot hold me accountable.