Price Action: Sharp Rejection from the Upper Resistance Line, in a confirmed downtrend.
Indicators:
MACD about to crossover for a bearish Signal.
Stochastic indicating an over brought Position as its above the 70 line.
Price under the 200 EMA and a sharp rejection wick seen on the 4 hour time frame.
Broke the uptrend and came back to re test the Static Resistance level.
Momentum and Stochastic indicating a sell.
Expecting it to short till the previous 4 Hour Resistance level.
Resistance on the upper trenline of the wedge, clear short till the previous daily support zone.
Stochastics and Momentum indicators also indicating a sell.
Clear touch and rebound of the trend line .
Bearish confirmation candle sticks are seen.
Stochastic and Momentum are both both indicating a sell.
Stop loss of only 20 pips.
CLEAR SHORT TILL NEXT RESISTANCE LEVEL .
Third touch of the 1 hour trend line with the bullish confirmation candles.
Stochastics and Momentum Indicators are also indicating a buy.
Expecting it to buy through the week till the next resistance level.
Third touch on the trend line and static resistance is seen due to the consolidation.
The Stochastic and Momentum Indicators are also indicating sells.
Broke a Major Daily Key level and retested it with a beautiful doji, also pulled very close to the 0.23 fibbs retracement level. Beautiful short Position.
A good long position due to break and retest of the small resistance area the trend also seems to reverse on the hourly due to the formation of higher highs and higher lows.
