On the weekly we are now in a big downtrend, but on the daily in a correction, which respected the 61.8 fib level with a break of structure.
Now on the 4HR timeframe we had a clear ABC correction which is probably already finished by touching the .38 fib level. We want to trade safe so we place a sell stop order below the last low around 0.984 for a continuation of the downtrend.
Now on the 4HR timeframe we had a clear ABC correction which is probably already finished by touching the .38 fib level. We want to trade safe so we place a sell stop order below the last low around 0.984 for a continuation of the downtrend.