We did not Hold the anticipated lvls at 5353 for 4th wave presently going on , Lets see the retracement lvls of this move from 4588 to 5630
Next level to watch is 38.2 % which comes to 5231 zone .
Moving Average:
With today's close at 5281 we close below the week 5 Ema at 5330 which brings the week TA in sell on rises as well also indicating developing strength in momentum downwards...
So Hour trend is down , Day trend down and now week trend in sell on rises so now for rest 5 days , I will look for a bounce in day TF to short ..If Hour time frame gets to OB with -ve divergence anytime in this week then that would be opportunity to go short .
the Low ema for week is 5228 coinciding with 38.2% retracement 5231, that could be a place to go long.
20 Ma as has crossed below 100 Ma in day chart also the 5 ema has crossed below 10 ema today , Indicating more downside to come .
In hour TF prices closed right at 200 MA which is at 5282 .If we hold this tomorow 1st session we may see some bounce . If not we are heading to 38.2% minimum.
Channels :
In this 4th we are trading in a very narrow channel ..below is a hour chart
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