Our expectations: D1 short-term traffic and adjustment to support levels.
Comment: The price corrected to support: 38.2% Fibonacci, up to a horizontal daily level. It reaches from the bottom up to 50 Linear Weighted MA, failing to break through it.
The price closes below these levels, the small bodies of the previous bars and the long tails of the last candle show bull insecurity.
Stochastic rotates and gives a signal over 80 – down signal.
We will position the entrance upon return of the price to 50% of today’s strong bearish bar, which allows us to move SL further.
Alternative Scenarios: Breakthrough, test, and repulsion at this level will lead to numerous long positions.