Candle stick pattern
Bearish Engulfing is what we have today ..which not only engulfs yesterday's candle but engulfs last 3 days candle .
Also we call today as an Outside day .
channel
Today we broke the hour channel at 5069 , and touching low at 5041.
Momentum
Momentum is clearly down as we close below hour low ema ,
with todays close we have
Hour trend down ( 5 -10 bearish crossover happened )
Day trend down ( 5-10 crossover not yet taken place . )
Divergence
-ve Divergence played out well today .
Candle stick , channel , momentum all indicate a lot of weakness in prices .
Hi - Lo 34 hour ema says one should have shorted at 5080 with 5100 SL at 12:00 today .
I still have to work on EW labels ...which help a lot , and once a wise soul told me , is the only thing which never fails .
Bearish Engulfing is what we have today ..which not only engulfs yesterday's candle but engulfs last 3 days candle .
Also we call today as an Outside day .
channel
Today we broke the hour channel at 5069 , and touching low at 5041.
Momentum
Momentum is clearly down as we close below hour low ema ,
with todays close we have
Hour trend down ( 5 -10 bearish crossover happened )
Day trend down ( 5-10 crossover not yet taken place . )
Divergence
-ve Divergence played out well today .
Candle stick , channel , momentum all indicate a lot of weakness in prices .
Hi - Lo 34 hour ema says one should have shorted at 5080 with 5100 SL at 12:00 today .
I still have to work on EW labels ...which help a lot , and once a wise soul told me , is the only thing which never fails .
