Short EJ Potential

Short EJ Potential


Price has recently retraced from an overall high on the Daily chart and is showing evidence of becoming bearish on the 200EMA (4 hourly and hourly). However, on the daily the market is still indicating bulllish momentum from the 200EMA. Price made a strong bearish breakout, this movement is now retracing to test a key level of resistance which has confluence with bullish momentum waining and near an area of value with the 50 and 20EMA. This may be a trade with good R:R to trade with confirmation.

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