So we had a bull rally as a result of NFP last week. We have now come to a critical level. If this gets stopped out this will become bullish, however in the mean time I am bearish down to the last low.
We have been trading within a bearish channel for the past few months, we have also broken the previous supporting trend, and with the push up from NFP have come back up to test this support which looks to have turned resistance. This level is also an important level on the Fib.
To me this looks like a safe trade.
We have been trading within a bearish channel for the past few months, we have also broken the previous supporting trend, and with the push up from NFP have come back up to test this support which looks to have turned resistance. This level is also an important level on the Fib.
To me this looks like a safe trade.