Strong bearish close on 38.2% Fib shows there was insufficient momentum on an intraday level to break this structure. Trading with the trend with Ascending TL, 50 EMA and 200 EMA to protect the position. Target previous highs
Short bias - counter-trend but price should be attracted back to the base line trend line:
4 Hourly
• +Intra-day bullish trend was recently broken
• +Retested ascending trendline from the other side PLUS a wick rejecting the 1.10 level
• +Also rejecting the descending trendline
• +50 EMA has crossed below 200 EMA to which confirms bearish bias
• +Path of least...
