Possible fakeout of TL on D TF:
Bearish divergence on MACD as well as RSI indicating a continuation of trend, no signal of crossing on either when breakout occured.
ATR of 24 at point of breakout (25< is considered consolidating) which has decreased since.
SMA/EMA still show a downward trend with 4H having just crossed down.
Possibility that we are ranging at the moment, creating a bearish rectangle.
Break of 1760 and bull
Break of 1677 and bear
Bearish divergence on MACD as well as RSI indicating a continuation of trend, no signal of crossing on either when breakout occured.
ATR of 24 at point of breakout (25< is considered consolidating) which has decreased since.
SMA/EMA still show a downward trend with 4H having just crossed down.
Possibility that we are ranging at the moment, creating a bearish rectangle.
Break of 1760 and bull
Break of 1677 and bear
