After a big move up it found resistance at $1.69840 and now flagging near lows of that range. I got a feeling that it will resolve to downside but will be patiently waiting for trigger and will initiate SHORT position on break of that flag ($1.69650-670) and expect to see some momnetum down.
There is no well defined level of support confirmed by price action, so I will use fibonacci lines to measure strength of yeasterday's move. It could be ourTARGET ($1.69454) as well.
STOP could be placed above $1.69750.
Just a quick trade as daily chart is strong, above all key moving averages.
There is no well defined level of support confirmed by price action, so I will use fibonacci lines to measure strength of yeasterday's move. It could be ourTARGET ($1.69454) as well.
STOP could be placed above $1.69750.
Just a quick trade as daily chart is strong, above all key moving averages.