1.Strong Selling pressure from the supply zone( Resistance) causing an end to the UPTREND (HH's & HL's) and Creating New LH's.
2. Fibonacci Downtrend Move Setup formed.
3. Bearish Engulfing ( Three- Pin bar) pattern formed in the 61.8% level which is a Key Level Area. ( Previous Support + Resistance = Key Level Area)
4. Price Respecting the 15M EMA'14.
* Price moved all the way down to TP 4 of the Fibonacci level which also was the next key level area.
2. Fibonacci Downtrend Move Setup formed.
3. Bearish Engulfing ( Three- Pin bar) pattern formed in the 61.8% level which is a Key Level Area. ( Previous Support + Resistance = Key Level Area)
4. Price Respecting the 15M EMA'14.
* Price moved all the way down to TP 4 of the Fibonacci level which also was the next key level area.