Hi Traders!
As you can see, the market is moving in a descending Triangle after an Upmovement.
Furthermore, it is moving in a Range.
We also have Lower Highs which shows bearish strength.
Additional Confirmation:
It looks like the 50 MA is going to cross the 200 MA bearish.
This would be a golden cross then.
The target is the 61.8% Fibonacci Retracement which is at the H4-Trendline.
We recommend to enter underneath the 200MA!
Thanks and successful Trading :-)!
As you can see, the market is moving in a descending Triangle after an Upmovement.
Furthermore, it is moving in a Range.
We also have Lower Highs which shows bearish strength.
Additional Confirmation:
It looks like the 50 MA is going to cross the 200 MA bearish.
This would be a golden cross then.
The target is the 61.8% Fibonacci Retracement which is at the H4-Trendline.
We recommend to enter underneath the 200MA!
Thanks and successful Trading :-)!
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Alternate Plan:
