Price put in a double top, failing to close above 38.2 fib of X - A. In conjunction with fibonacci, and the double top, we have a strong monthly support and resistance area which could help us with this short.
I see high probability in this one, I am not looking for extended target(s) this time. As we could, potentially, look at a bullish (temporary?) release from this bearish trend.
If we break and close above 118.400 we could be looking at a bullish rotation, as hinted above. And then - we adjust our prognosis and entries accordingly.
Lets see if this elevator goes to our floor!
I see high probability in this one, I am not looking for extended target(s) this time. As we could, potentially, look at a bullish (temporary?) release from this bearish trend.
If we break and close above 118.400 we could be looking at a bullish rotation, as hinted above. And then - we adjust our prognosis and entries accordingly.
Lets see if this elevator goes to our floor!
Trade closed: stop reached:
Stop reached. Lets keep our eyes open for the next possibility.
But! - We have stop loss for a reason. No changes.