ParSar has printed 4 bearish dots on the 4 hr time frame combined
with a large gap between the 8 and 24 hr ema's and declining macd bars. This all points to high odds of a temporary short term retracement. I'm looking for a possible drop to a fib level or a Williams%R dip to the -75 or -80 level. But if the retrace stops and reverses as indicated by the ParSar printing a dot below the last candle I will re-enter there. By the way for those that don't know, the SAR in parabolicSAR stands for STOP AND REVERSE.
with a large gap between the 8 and 24 hr ema's and declining macd bars. This all points to high odds of a temporary short term retracement. I'm looking for a possible drop to a fib level or a Williams%R dip to the -75 or -80 level. But if the retrace stops and reverses as indicated by the ParSar printing a dot below the last candle I will re-enter there. By the way for those that don't know, the SAR in parabolicSAR stands for STOP AND REVERSE.