W10 - 1 _ Short Term Bearish Idea _ USDTHB H1
The price action which was moving down has retraced just shy of ~61.2% of FR of the last leg.
It has formed Bearish Divergence on MAs and Histogram of MACD indicator.
The price action has also formed an Evening Star Candle pattern.
All these evidence presents bearish pressure, and we can expect a move down.
Target is the most recent resistance level which had been support multiple times in the past.
Protection is at 61.2% FR of the down leg.
It has formed Bearish Divergence on MAs and Histogram of MACD indicator.
The price action has also formed an Evening Star Candle pattern.
All these evidence presents bearish pressure, and we can expect a move down.
Target is the most recent resistance level which had been support multiple times in the past.
Protection is at 61.2% FR of the down leg.