This is based off previous idea.
BIAS: Buyer momentum has slowed down and selling momentum is raising.
EVIDENCE:
- Daily chart shows buyers diving & sellers raising, previous Huge Bearish Engulfing Candle & FIB C Retracement at 61.8 PRZ.
- 4HR chart ADX indicator shows sellers trending and buyers dead. EMA & SMA Crossed indicating a switch of trends.
Current Market Conditions:
The trading week just ended 09/28/18 as we head into the weekend.
I feel like this new trading week is going to be very bearish and that the overall trend might change directions.
Let's see how things go and make adjustments along the journey :D
Entry - 148.456
SL - 148.750 (29 Pips)
TP - 147.000 (145 Pips)
BIAS: Buyer momentum has slowed down and selling momentum is raising.
EVIDENCE:
- Daily chart shows buyers diving & sellers raising, previous Huge Bearish Engulfing Candle & FIB C Retracement at 61.8 PRZ.
- 4HR chart ADX indicator shows sellers trending and buyers dead. EMA & SMA Crossed indicating a switch of trends.
Current Market Conditions:
The trading week just ended 09/28/18 as we head into the weekend.
I feel like this new trading week is going to be very bearish and that the overall trend might change directions.
Let's see how things go and make adjustments along the journey :D
Entry - 148.456
SL - 148.750 (29 Pips)
TP - 147.000 (145 Pips)