The 60 min chart revealed an Engulfing pattern, that is a strong reversal pattern. This pattern followed by a black candlestick not yet finished. Furthermore, the engulfing pattern is at 61,8% retracement Fibonacci level. I think this will be a good short trade because I forecast that price will go down. First take profit should be at 123,6% Fibo, next at 138,2%. Stop loss can be put at 138,84 price level.
Comment
⋅
In the H4 time frame we have a nice shooting star, this is another bearish signal for us. So, at this time we have two bearish patterns from two differents time frame.
Trade closed: target reached
⋅
Good Morning, i traded with three entry (risk total 2% my capital). First two take profit taken, the last TP is on 137,16. I put my SL at 137,72 (0% FIBO). If price will go up, I'll take half profit from my last trade.
Trade closed: stop reached
⋅
Last trade reached the stop that I had moved before. All three trade in profit.