Price moved the past two months in a flag kind of structure on the weekly chart. Yesterday it managed to breakdown out of this channel, We found some liquidity below a moved price back into the channel. Because price just bounced back up without consolidation I think we will break the 0.382 fib level. This will open the door for price to go at least to the 0.618. This is for me the perfect spot to consider to short again. But lets see if we can close above the 0.382 first.
Trade closed: target reached:
Trade closed bounced backup and flipped short. I posted a new long follow up setup