Structure, trend line, and a fibo 0.618 are all fighting together for me on this one.
I will watch closely and keep trailing tight after passing 1.0 down at target two.
For a more conservative approach you could wait for this 4h candle to close (20 mins left) or the MA crossover at hourly.
I will watch closely and keep trailing tight after passing 1.0 down at target two.
For a more conservative approach you could wait for this 4h candle to close (20 mins left) or the MA crossover at hourly.
Comment:
A follow up trade to this idea based on price failing to close above monthly resistance, which can be seen on above chart aswell,, turned into a very successful short:
