Hi traders!

I keep showing this daily chart with Bearish divergence.

2015-08-21_15-21-35-GJ1

Since I am a big fan of Divergence, I still think the price should go down a little further… at least down to 55EMA (192.00 ish), or possibly down to MPP (191.00 ish).

Here is Hourly chart, and this looks very bearish, riding 5EMA !  Also notice the price broke Support and 193.00 Psychological level.

2015-08-21_15-25-53-GJ2

2015-08-21_15-28-08-GJ3

Here is the entry (M15 chart above).  The price may go up a little high, but I would like to short from Fib38.2-61.8% level.

The target is 192.00 which is the next level of support on H4 chart.

This is the Beast.  We have to take care with the extra care, you know!  🙂   Please please make sure the price action on M5 (or M15) is in sync with your direction, before entering the trade.

 

(Sorry, my post was a bit too late.   Now only 25 min before London Open)

 

Hope this helps you build up your own trade plans.

 

YJ Baik – Forex.Today @ Tokyo

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