The Bull movement has reached the 0.61 retracement zone and formed a shooting star candlestick after successfully making a third contact with the trend line. Similarly, we can also see the counter trend line has been broken so we are set for SHORT in the smaller time frame looking for a possible target 1 at -27.00 (1.11588) and target 2 at -61.80 (1.10610).
The 4 Hour time frame is similar to the daily. However, we have a green light for a sell as the C.T.L has been broken. Similarly, the M.A has also crossed over. The stop loss is placed just about the 61.80% zone as well as the strong trend line. Similarly, our first target point is at 0% but its a temporary target as we will be expecting some volatility around that area.
The 4 Hour time frame is similar to the daily. However, we have a green light for a sell as the C.T.L has been broken. Similarly, the M.A has also crossed over. The stop loss is placed just about the 61.80% zone as well as the strong trend line. Similarly, our first target point is at 0% but its a temporary target as we will be expecting some volatility around that area.
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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.