-Good sell opportunity on the rest of the descending channel which is in line with the 38.2 fib level which adds confluence that price could rest from that level.
- The Ema's are above price which indicates bearish momentum of the pair.
- Wait until price has reached the significant level and look for a strong bearish candle to sell this pair.
This pair can also sold at the 23.6% fib level if price starts to reverse from that level.
Trade closed: target reached:
This trade has closed as its Friday and this has been a very good sell trade with a 1:2 Risk to Reward Ratio.