We’ve approached a of the 4HR and have definitely seen some decelerations with some high test dojis to add to this. We’re at the 0.6000 level which will give us more reason to short. With price at 0.6050 currently, I predict we will drop on the basis that we’ve wiped out the bears who will have shorted the 0.6000 level and set stops between 0.6030 - 0.6050. We’ve also seen this level be used as both support and res many a time in the passed and we're perfectly hovering around the 0.618 fib retracement level.
✓ - Deceleration in most recent 4HR
✓ - confluence
✓ - 0.6000 psychological level
✓ - Lots of previous from this level
✓ - 0.618 Level