The pair has been on my watch list for this week . Seeing a failure to break above the levels .68564 & .68750 and having a strong rejection in that zone we started to look for bearish opportunities.
There is a trendline that has been broken and yet again respected and to me i had to consider using it since from when it was broken the market didnt change the trend and we still in a bearish sentiment.
So given a clear support zone now turned resistance i had one factor in my arsenal furthermore the trend line respected more than 4 times......and a breakout and retest of that consolidation which i can also say multiple rejections and finally i have clear candlestick confirmations and im in the trade as we say.....
for my first target it is 0.618 Fib retracement.
Guys if u have any ideas please leave a comment or share ur ideas with me
Always keep my analysis pure simple and it works.
K.I.S.S (KEEP.IT.SIMPLE.STUPID)
There is a trendline that has been broken and yet again respected and to me i had to consider using it since from when it was broken the market didnt change the trend and we still in a bearish sentiment.
So given a clear support zone now turned resistance i had one factor in my arsenal furthermore the trend line respected more than 4 times......and a breakout and retest of that consolidation which i can also say multiple rejections and finally i have clear candlestick confirmations and im in the trade as we say.....
for my first target it is 0.618 Fib retracement.
Guys if u have any ideas please leave a comment or share ur ideas with me
Always keep my analysis pure simple and it works.
K.I.S.S (KEEP.IT.SIMPLE.STUPID)
Trade closed: target reached