-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.
REMEMBER THIS TRADE!
We´ve a nice Wyckoffpattern in the 1h.
Got a nice Reentry in the 5m Chart, based an
an institutional Candle in the 1h.
VOLUME is present shows downside support.
DON`T FORGET Breakeven after some Pips to protect SL
Checkout my other ideas!
We have a Sell limit placed at our entry 1 point, but we do have 2 possible entries, just make sure you use correct risk managment. We expect price to head up to our entry 1 point and then head down to take out them equal lows (Marked "Liquidity")
where price could keep pushing down or reverse.
We expect price to come up and retest the sniper zone (Marked in Purple) and head down to break them previous lows, to an old Reistance/support area.
Sell Limit @ 1.414
Stoploss @ 1.42
Take Profit @ 1.4
We have a possible sniper entry for EU, we have the sniper marked with blue arrow that is a break of lows to grab liquidity, we are expecting price to come down and retest the open of the bearish candle and head up towards the other sniper area.