Monthly trend is down . Weekly it is down and daily it is down . Yesterday hour frame did turn up , but again looking at today's last 2 hours , it seems to be trying to allign with the larger trend . Down .
Moving average channel in hour frame triggered abuy towads the end of day yesterday and today again it is reversing direction and triggered a sell with the 3 hour close candle.
Now if we look at the channels in daily time frame , we see that the sell triggered close to 5400 is still on ,
Todays action provided another oppertunity to enter the short trade as the hour prices broke below the 5 hour low ema .
Also the Zero line reversal is coming to mind , when the macd line starts to reverse just after touching zero line it is very bearish and vise versa .
As we see here in the above chart , macd line reached zero line and reversed again . lets see the action tomorow .
Since the trend in the higher TF is down , hourly bouces can be used to sell .
Moving average channel in hour frame triggered abuy towads the end of day yesterday and today again it is reversing direction and triggered a sell with the 3 hour close candle.
Todays action provided another oppertunity to enter the short trade as the hour prices broke below the 5 hour low ema .
Also the Zero line reversal is coming to mind , when the macd line starts to reverse just after touching zero line it is very bearish and vise versa .
Since the trend in the higher TF is down , hourly bouces can be used to sell .
