BCHUSD - FALL CONFIGURATIONThe H4 Elephant Bar, which announced the fall, did not favour risk management, as it left us without a stop loss option.
The bar that followed the elephant bar was of little significance and revealed the possibility of a correction of 2/3 of the previous bar without, however, losing the downward configuration. For this reason, our sell entry is at a future point around 445.90. Selling at this point gives us a good stop-loss location with risk-reward = 3.
Multi-time Fibo clouds are aligned and compressed for selling and are the main filter and guidance for this trade.
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