We're seeing a significant and pretty clear divergence in the RSI and MACD on both the 1 hour and 4 hour charts indicating a potential trend reversal to the downside 618 fib.
My trade entries will be shorts at
4.65
4.68
4.70
4.85
@ 25% of my initial risk size.
I recommended trading with 5% of your stack on this particular trade.
Take Profits (TP)
@
4.2
4.4
4.45
4.5
ALWAYS REMEMBER TO USE A STOPLOSS
For this trade I would recommend setting a heavy stop loss at 5.05 and 4.8 where we are seeing some heavy resistance
With the pattern intact we should be seeing the trend reversal within 24-48 hours and given the momentum of the previous movement range, we should be capped at about 4.1.
Thanks for reading.
My trade entries will be shorts at
4.65
4.68
4.70
4.85
@ 25% of my initial risk size.
I recommended trading with 5% of your stack on this particular trade.
Take Profits (TP)
@
4.2
4.4
4.45
4.5
ALWAYS REMEMBER TO USE A STOPLOSS
For this trade I would recommend setting a heavy stop loss at 5.05 and 4.8 where we are seeing some heavy resistance
With the pattern intact we should be seeing the trend reversal within 24-48 hours and given the momentum of the previous movement range, we should be capped at about 4.1.
Thanks for reading.
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