Short
Entry: 1.22850
SL: 1.23000
TP: 1.22600
Recap: Last Friday Daily candlestick has touched the fib .236 (1.22600) and been rejected as the price went up to close just below fib 0.382 (1.22900). Although the price has been rejected, but the bearish movement still have some momentum left. The news on Monday would decide whether the price will continue downwards or bounce to the upside.
H4: Price has form a strong Bullish Pin Bar formation after touching and rejected of fib .236 (1.22600). However the next candlestick has shown bearish movement as seller tries to continue their march towards the bottom.
H1: The latest candlestick has shown price has been rejected off the fib .382 (1.22910) after it tries to march to the upside to form a higher high.
M15: Price has retested the fib .382 (1.22910) but been rejected again. The price will possible bounce to the downside to retest the fib .236 (1.22626).
Entry: 1.22850
SL: 1.23000
TP: 1.22600
Recap: Last Friday Daily candlestick has touched the fib .236 (1.22600) and been rejected as the price went up to close just below fib 0.382 (1.22900). Although the price has been rejected, but the bearish movement still have some momentum left. The news on Monday would decide whether the price will continue downwards or bounce to the upside.
H4: Price has form a strong Bullish Pin Bar formation after touching and rejected of fib .236 (1.22600). However the next candlestick has shown bearish movement as seller tries to continue their march towards the bottom.
H1: The latest candlestick has shown price has been rejected off the fib .382 (1.22910) after it tries to march to the upside to form a higher high.
M15: Price has retested the fib .382 (1.22910) but been rejected again. The price will possible bounce to the downside to retest the fib .236 (1.22626).
Trade closed: target reached