Expect deeper short retracement for higher timeframe zone test

23 באוג׳ 2020

In daily timeframe bearish divergence happaned on Friday, furthermore H4 double top-ish bearish divergence formed. During monday there will be a M15 -H1 smaller long period for retest. The expected short outcome from top to the end is around 350-400 pip max until the closest major support zone as well as Fibo 38%-50% zone reached. It will take place until Wednesday latest, afterwards decision can be made about if trend will continued with the last impulsive long leg or not, so we can keep the short scenario.

Good luck,
Divergence David