On daily chart we are bearish
Price was rising till it reached 1.09378
After that bearish BOS happened.
And now we supposed to look for sells BUT I see new height that was created as liquidity zone.
Fibonacci also says that there is potential level higher (key level).
But I thing before price will reach our TP it will make very common trick (I call it double side BOS) - when price makes bullish/bearish BOS and after bearish/bullish BOS to create liquidity zones.
We also got close to support and resistance level that is just at the same Fibonacci (key) level. So most likely price will reach my entry.
And another moment. We have an order block (wick of the block) that a lot of traders will be interested to work with.
So if someone wants to get higher RR you can enter from the order block but I would recommend to leave stop loss at the same level or minimum at 50% of the height from OB to previous low.
Good luck:)
Price was rising till it reached 1.09378
After that bearish BOS happened.
And now we supposed to look for sells BUT I see new height that was created as liquidity zone.
Fibonacci also says that there is potential level higher (key level).
But I thing before price will reach our TP it will make very common trick (I call it double side BOS) - when price makes bullish/bearish BOS and after bearish/bullish BOS to create liquidity zones.
We also got close to support and resistance level that is just at the same Fibonacci (key) level. So most likely price will reach my entry.
And another moment. We have an order block (wick of the block) that a lot of traders will be interested to work with.
So if someone wants to get higher RR you can enter from the order block but I would recommend to leave stop loss at the same level or minimum at 50% of the height from OB to previous low.
Good luck:)