Chart Shorting Possible retrace on 50 EMA on 1 hour Chart
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Short trend might end up retracing on the 50 EMA on the 1 hour chart , possibly making a head and shoulders if it does bounce of the 50 EMA. Confirmation after passing 50 EMA will increase possibility that chart might end up reaching the 200 EMA on the 1 hour chart.
Note
Chart has reached near 50 EMA on the 1 Hour chart. Chart may bounce of the 50 EMA for retraement possibly forming a head and shoulders. If the chart passes the 50 EMA it will then possibly continue to the 200 EMA on the 1 Hour chart.Note
Chart has now reached the 50 EMA. Standing by for either bounce for retracement and continuation or continuation to the 200 EMA on 1 hour chart.Note
Chart has passed 50 EMA now increasing the probability of chart headed down to the 200 EMA.. Still Shorting.Note
Retracement to possible head and shoulder pattern has begun.Note
Chart seems to be headed to the 200 EMA on the 1 hour Chart.Note
Closed Short position since chart is near 200 EMA on 1 hour chart.Note
Chart has reached the 200 EMA on 1 hour chart.
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