H1: A bearish divergence took place on the top of the recovery, confirmed by a bearish engulfing
pattern !
Ongoing reversal nearly already reached the 38.2% Fib ret of the last rally (47069-52652)
Looks like further downside is on the cards
M15 : Recent price action broke TS, MBB and KS.
Watch 50500-50000 as next support area.
50519 being the 38,2% Fib ret and 49860 the 50 % Fib ret ahead of 49201 which is the 61.8%.
All those levels coincides with the clouds support area
Monitor closely price action on M15 and H1
pattern !
Ongoing reversal nearly already reached the 38.2% Fib ret of the last rally (47069-52652)
Looks like further downside is on the cards
M15 : Recent price action broke TS, MBB and KS.
Watch 50500-50000 as next support area.
50519 being the 38,2% Fib ret and 49860 the 50 % Fib ret ahead of 49201 which is the 61.8%.
All those levels coincides with the clouds support area
Monitor closely price action on M15 and H1
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.