analyzing this pair from the 2 hour time frame i can see price has worked into a Bearish OB also Filling higher time frame bearish imbalance, now that price has reached these areas we are starting to see rejection and are getting a Very strong Bearish engulfing on the 15 minute time frame AS I'M typing this out!
with the confluence of rejecting the .236 fib retracement and bearish divergence (price was creating higher lows and the RSI is starting to create lower lows! once we create a lower low below 88.838 we should see aj start to drop nicely to our lower support areas where we can start to take partial profits!
disclaimer - information shared is for educational and demo purposes only please master a risk management plan when trading in the financial markets!
with the confluence of rejecting the .236 fib retracement and bearish divergence (price was creating higher lows and the RSI is starting to create lower lows! once we create a lower low below 88.838 we should see aj start to drop nicely to our lower support areas where we can start to take partial profits!
disclaimer - information shared is for educational and demo purposes only please master a risk management plan when trading in the financial markets!
Trade closed: stop reached:
Will Re-enter here with 10 Pip s/l 89.520