From what I see on the chart there is a really nice shorting opportunity on the 4H chart.
1) Monthly Pivot riht above. Price was rejected at that spot already two times.
2) Weekly R2 at the zone as well.
3) The 200 EMA
4) RSI Going overbought
5) .382 Fib retracement.
I will enter with a small position agressivley and put the stop above the previous highs. Once a reversal on the 5/15 min chart forms I will add to the position. Targets can be the the .382 the .618 or the previous lows.
1) Monthly Pivot riht above. Price was rejected at that spot already two times.
2) Weekly R2 at the zone as well.
3) The 200 EMA
4) RSI Going overbought
5) .382 Fib retracement.
I will enter with a small position agressivley and put the stop above the previous highs. Once a reversal on the 5/15 min chart forms I will add to the position. Targets can be the the .382 the .618 or the previous lows.
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