Price making its 3rd touch to its downtrend line. Lower high completed as well as 61.8 retracement, now looking for a lower low to form. Price is at consolidation resistance, looks like it may be ready to short during the next 4 hour candle. Aggressive traders can take this if the candle closes below 1.73000 & conservative traders can wait for a break out of consolidation..
Comment:
consolidation box
Trade active:
taking it now, great risk/reward
Comment:
hmm, looks like there could be a potential double bottom on support, I will be looking to exit the trade until a clean break of consolidation