Lower highs on Daily and H4 time frame = bearish market structure
I am looking too sell this pair once conditions have been met. After the drop that took place on Friday I have marked the 50 and 61.8 fibo retracement levels with a yellow bar. This is where I will be waiting to see if price prints a sell signal before considering to short.
The area of interest is 0.71209 to look for price action clues and if I short:
Sl will be above the trend line where I deem the setup invalid @ 0.71605 and
Tp lower down at support @0.70046
As usual, don't bet the farm and exercise good risk management.
For more info on exact entry and trade management feel free to follow me in Forex Bootcamp using the Telegram link below
I am looking too sell this pair once conditions have been met. After the drop that took place on Friday I have marked the 50 and 61.8 fibo retracement levels with a yellow bar. This is where I will be waiting to see if price prints a sell signal before considering to short.
The area of interest is 0.71209 to look for price action clues and if I short:
Sl will be above the trend line where I deem the setup invalid @ 0.71605 and
Tp lower down at support @0.70046
As usual, don't bet the farm and exercise good risk management.
For more info on exact entry and trade management feel free to follow me in Forex Bootcamp using the Telegram link below