I said before that I confidence that this drop will continue because price crossing my lower trendline. After further study my chart, its seem there is new trendline (light blue) which touch the last swing on 28/10/2015 low which make me sit back and wonder if short is the answer.
EU still playing around the range (1.0860-1.1425).
I draw some fibo and before that, i apologize if I draw fibo backward because there are ppl tell me before that this is wrong, but this is how i draw my fibo. This way i can see the projection of price for >1.00 for TP.
Seem for me 1.1130 (0.618) and 1.1270(0.382) respect each other (fibo & SR line) which i believe this 2 res line will be my short zone.
Short @ 1.1130 will respect the lower trendline (incline trendline).
Short @ 1.1270 will respect the upper trendline (decline trendline).
However, there are many ppl already short EU based on H1 trendline. I do trade with H1 but when come to SR and trendline, i prefer Daily only. I will enter trade based on PA on H1.
Comment much more appreciate... :)
EU still playing around the range (1.0860-1.1425).
I draw some fibo and before that, i apologize if I draw fibo backward because there are ppl tell me before that this is wrong, but this is how i draw my fibo. This way i can see the projection of price for >1.00 for TP.
Seem for me 1.1130 (0.618) and 1.1270(0.382) respect each other (fibo & SR line) which i believe this 2 res line will be my short zone.
Short @ 1.1130 will respect the lower trendline (incline trendline).
Short @ 1.1270 will respect the upper trendline (decline trendline).
However, there are many ppl already short EU based on H1 trendline. I do trade with H1 but when come to SR and trendline, i prefer Daily only. I will enter trade based on PA on H1.
Comment much more appreciate... :)
