On the 4H time frame we have a symmetrical triangle that i am looking to short upon the breakout of the lower trend line
. There has been a lot of resistance at the 61.8 fib which coincides with the 1.23200 key resistance level
which the bulls have failed the break above on the daily close. If you look on the daily chart
there has been several rejections of this area which to me highlights that there are a lot of sellers in this market.
I will look to trade this position down to daily support target of 120.800.
For more trading ideas head over to my instagram, tag is in my BIO.