Reasoning: 1. Bearish on smaller time frames 2. Long wicks forming 3. Rsi touching oversold
Reasons for bounce: 1. Ema's will act as support 2. .5 and .618 fib zone as support (not shown to reduce clutter)
More reasons for bearish indicate a pullback. Once price pulls back we re-analyze to confirm uptrend Stop loss will be determined once pull back occurs or if it does.
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Looking at a 30 min chart. Possibly the last attempt up before we break down to our buy zone
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Sky ended up breaking through the 200 ema. Was away from my computer so I didn't catch it. Let's see if we reach our sell target. (I am not in a position)
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Couldn't maintain. Let's hope it falls in our buy zone now, same resistance as before
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Buy orders filled. Consider taking profit due to the current volatility