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May 15, 2016 2:57 AM

EU Short 05/16/2016 Short

Euro Fx/U.S. DollarFXCM

Description

Weekly TF:

Bearish Pinbar rejecting at the strong weekly resistance at 1.4666

Daily TF:

The bearish move underway. Broke out of the trendline.

4Hr TF:

With the bear move down, I am anticipating a 61.8% pullback up to the red line, which is a previous S/R level, aligned with a retouch of the trendline previously broken.

Entry on the 4hr:
Entry at the 61.8% pullback
Stop above the previous high.
Target at 1.10971, may hold onto it if the momentum is good enough.






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arif_awan
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