Forex_Trader21

Entry on retracement

Short
OANDA:EURGBP   Euro / British Pound
price broke through a support level and came back up to retest it that lines up with the trendline. Looking at PA we can see a strong rejection bar with ultra-high volume which tells us market weakness and insiders can be potentially selling out. we also touched the 50-68.2% fibo giving us extra confluence. on the daily we got a strong bearish engulfing candle which was validated with volume and on the retracement decreased volume
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.