price is currently in bearish trend and pema (13,34,55) is stacked and sloped very smoothly.
price is taking support at a confluence of Yearly L4, monthly L3, Monthly S1 and is also forming a divergence with PB oscillator.
also, the price despite opening below Previous month low has successfully closed above Previous month low.
the region from 1885 to 1890 would serve a great entry point with target set at PEMA mean, monthly H3 and H4 eventually (less likely) and stoploss slightly below yearly L4
DO NOTE THAT WE ARE TRADING AGAINST THE TREND WHERE IN THE RESPONSIVE PARTICIPANTS WOULD KICK IN TO PUSH THE PRICE LOWER.
price is taking support at a confluence of Yearly L4, monthly L3, Monthly S1 and is also forming a divergence with PB oscillator.
also, the price despite opening below Previous month low has successfully closed above Previous month low.
the region from 1885 to 1890 would serve a great entry point with target set at PEMA mean, monthly H3 and H4 eventually (less likely) and stoploss slightly below yearly L4
DO NOTE THAT WE ARE TRADING AGAINST THE TREND WHERE IN THE RESPONSIVE PARTICIPANTS WOULD KICK IN TO PUSH THE PRICE LOWER.
Trade closed: target reached