I'll be taking a short position from the daily pivot.
Factors of confluence:
- High test on the daily chart (failed to break previous high from months ago)
- Consolidation on daily chart
- Double top on 4hr chart
- LL's and LH's on 4hr and 1hr chart
- Psychological level of 1.5000
- Break below 100 EMA on 1hr chart
- Pivot point coincides with 100 EMA
Factors of confluence:
- High test on the daily chart (failed to break previous high from months ago)
- Consolidation on daily chart
- Double top on 4hr chart
- LL's and LH's on 4hr and 1hr chart
- Psychological level of 1.5000
- Break below 100 EMA on 1hr chart
- Pivot point coincides with 100 EMA