1.80551 area is acting as historically strong resistance and price is respecting a bearish trendline, At the moment price is touching both our trendline and resistance level so this is a strong sell, providing there is no market gap at open tonight.
If a market gap to the upside happens we will stay out of this trade and see how the market plays out tomorrow as...
I have been waiting for this opportunity since yesterday morning. A pullback to the 50% fib level was achieved along with a perfect shooting star and trend line rejection on the 2hr. I will be taking this down to retest structure at 1.78500 support area with a nice R:R
this morning we could have a chance to get involved in this trade. Now i'm going to explain you why:
first of all, the big yellow box represents a daily structure level, this level happens to line up pretty well with the 618 retracement of the bigger daily leg.
In this cases i seek for trading opportunities down on lower timeframes: on the hourly chart...