Downtrend on daily chart, huge rise on 4h chart and then reverse right at the trend line. Price also reacting to the 0.6 fib retracement. Hoping to retest the 1.125 zone and possibly reverse from there.
Comment:
Wait for entry until price has stopped going sideways.
Trade closed manually:
Possibly reversed at 1.125 already. Higher high and reacting to the bullish trend line.
Comment:
Enter short only if it breaks 0.6 fib area. Otherwise wait for trend line break on downtrend line to go long.
Trade closed: target reached:
Entered short after 0.6 retracement and tp right under 0.5. Caught 32 pips. Gravestone Doji was also a good indicator together with trendline resistance that it was going to drop.