Waiting for price to return to me. Entry for short at confluence- Trend Lines, Fib Level.886, Daily Engulfing, Fib Ext. 127.
Comment:
Overall on a daily EJ is forming a descending triangle. Im not big on retail patterns, but this one indicates that there is money the banks will be trying to capture. If price returns to the 12 hr engulfing, equal low will have been created. And retail traders will have long orders in place with their stop loss below the 109.5. Currently we are in slightly higher equal low in which the same scenario can play out to capture the money between 116.5 and 112.5