⚠️⚠️Not reading this post = losing money⚠️⚠️
Key Areas 🔑
Resistances in case of a correction up before a decline-
On the 4-hour chart; EMA8: 4585
Last high and Fib .618 of the last wave: 4670-4794
Important supports💪🏽
For 4 hours EMA55: 4312 - if it breaks ⬇️ 4232 - strong horizontal support!
For 4 hours EMA100: 4096-3915 then 3598 are deeper correction targets!
🔴Short Signal🔴
Preferred Entry Zones: If the price corrects back to the area- 4585-4670 Open/Stronger Short.
TP1: 4350
TP2: 4100
TP3(Deep Correction): 3915-3900
Stop Loss: Above 4700
A break of this level will eliminate the bearish scenario!⛔️🐻❄️
🟢Continue to manage a position by going long🟢 First reversal zone: 4096-4050 Used as support + Fibonacci 0.5 approx.
Second reversal zone: 3915-3900 If the first one breaks!
Approval for long only if!!
Change of trend in candles: Reversal candle like Hammer / Engulfing + RSI rises back above 40 on the 4-hour chart.
Good luck to everyone!!🤝🏼🤝🏼