alrobbo18

alrobbo18

As you can see on the weekly timeframe the 61 fib lines up with the 200 EMA and the 200 SMA, giving me reason to believe this will be a good sell area in the future. Simple as that. Let me know what you guys think. :)

alrobbo18

Green and red zones marked out for long and short at the recent low and high, purple zone marked out because 200 ema, 38 fib and wicks.

alrobbo18

Previous levels marked out have been respected, sell area (RED) at 1948 looks good for a short term sell.

alrobbo18

My reason for this set up is the fact I have 5 confluences, previous wick showing me a good area of intrest (BUY), trend line touch, ema touch, 38 fib touch and also being the 1900 round number. Let me know what you guys think.

alrobbo18

This is my first trade using technical analysis, please let me know what you think, thanks guys!