Entry Type : Limit Sell @ 70.500 Stop Loss : 71.250 Take Profit : 64.500 R/R : 8 R/R % : 0.50% / 4.00%
Technical Analysis:
Price Action has created a series of lower highs and lower lows showing us a clear downtrend. Currently we are coming up to retest our descending trend line as well as our 61.8 FIB LEVEL from our previous lower high to current low. On the daily time frame we can see price showing exhaustion through a grave stone doji followed by another high wick doji indicating that momentum is shifting from buyers to sellers. I am expecting price to continue rejection and then form a strong bearish push to the previous lows and then to our -27.2 FIB EXT target of 64.500.
Trade active
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I have three entries on this pair with a total of 1% risk.
(1) 70.500
(2) 70.613
(3) 70.840
Trade came within a few pips of stop loss but did not trigger trade close