On the H4, price reflected off the first resistance at 22600.00, broke past the second resistance at 20756.87 and is moving in a bearish momentum hence we are bearish. Price has moved and pushed through the first support at 19557.00 where the 78.6% retracement sits. If bearish momentum continues, it should bring price to the second support of 18540.00 where the previous swing low sits.
Trading Recommendation
Entry: 19418.85
Reason for Entry: Break of 1st support
Take Profit: 18540.00
Reason for Take Profit: Previous swing low area, 100% projection area
Stop Loss: 20186.00
Reason for Stop Loss:
Previous swing high
