My clues,
X-A 61.8% fibo reversal
1.618 fib extension
Overbought condition
Trend line resistance
We also have historical support and resistance zone within stop loss.
Target 1 - 0.382 fib of the leg
Target 2 - historical support and resistance zone, just above 0.618 fib of the leg.
If, however...
Plan B, if break and close above the falling trend line, I will look for opportunity to get long on this pair.
X-A 61.8% fibo reversal
1.618 fib extension
Overbought condition
Trend line resistance
We also have historical support and resistance zone within stop loss.
Target 1 - 0.382 fib of the leg
Target 2 - historical support and resistance zone, just above 0.618 fib of the leg.
If, however...
Plan B, if break and close above the falling trend line, I will look for opportunity to get long on this pair.
Trade closed: target reached:
Target 1 reached, rolling stop loss to break even.
Comment:
Stopped out on break even for second half