I still havent got a bias on this pair, I am waiting for price to break out either way. I would prefer price to break the ascending trendline as it gives us a better risk to reward trade, but we can't pick and chose in the markets, we must take what we are given. Let's see how this pair plays out....
Waiting on entry on the yellow support to go short price at 1.91444. We have 4 strong confluences trend line break retest on the daily, support, 50ema 4hr also we have the 50% fib. This could be a great opportunity to get some nice pips if it comes through.
-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.
Same as GA, looking for a similar sell as a day trade. I'm already in this floating about 100 pips in profit however it is still possible for this to wick up so be prepared for an entry where the purple box is. Watch for rejection around this zone.
280 PIP GAIN 13/1 RR