- We can see how price as reacted to the 61.8% fib level and we see a strong candle confirmation that bears are in control.
-A Confluence for this pair is that the is line with the 61.8% level which shows that price reacts well to the level and more confirmation that price would retrace once it has reached.
- Another confluence is the 50EMA which is above price indicates that this pair is in territory and we are looking for signals.
Drop down to the lower time frame and enter at a strong candle to enter.
This should be a very good set up with a possible to risk to reward of 1:3 or higher when price hits TP.