Daily- A strong down trend can be identified, price is currently trading at a
fib .50 retrac. level, the level is being rejected, this can be identified with the wicks testing but closing below the1.10700.
4HR- a double bottom can be seen forming at this level also indicating a reversal/rejection.
neckline at 1.10170 level, IF price breaks this level then i predict for it to continue 75 pips lower to prev. struc. resistance. (1.09400/.09300).
this trade is 1:3.
If price does not break level, i have no trade
fib .50 retrac. level, the level is being rejected, this can be identified with the wicks testing but closing below the1.10700.
4HR- a double bottom can be seen forming at this level also indicating a reversal/rejection.
neckline at 1.10170 level, IF price breaks this level then i predict for it to continue 75 pips lower to prev. struc. resistance. (1.09400/.09300).
this trade is 1:3.
If price does not break level, i have no trade