FCPO 10 Feb 2023 : Bearish divergence in progress?

1. SnR: Price not able to sustain above resistance zone 3994. This indicates a strong seller
2. Channel/Trendline: Price break up trendline - Indicate sideway/change direction.
3. Oscillator: MACD from yesterday shows a bearish divergence

Expectation :
1. Price will continue bearish momentum until at least close the previous gap.

Trading plan as usual :
1. In Early morning, monitor the nearest possible SnR
2. Monitor EMA12 1min TF for entry

Commentaire:

Monitor EMA12 1min and mid channel

Transaction en cours:

Price test EMA12 and mid channel

Commentaire:

As expected, price react to mid channel.
Watch out for possible reversal / sideway area near the lower channel

Commentaire:

Another entry chance.
Price test EMA12 5min.
MACD forming re-entry pattern