We are expecting some news this evening at... We should remain alert and be proactive with securing our capital and making sure we are protefted once we are in a risk-free position. 71.1 is also anothe rlevle of upper resistance where we could consider adding an additional short entry if we see the right price action. Bears have taken over looking at the 4-hr after the 4-hr doji candle (the first one that you ca see when we entered the trade) and I think this will help bring us down. My favorite zones of fib rejection the 61.8%-72% has been hit perfectly on the longterm weekly time frame on the downward trend.
Comment:
Now down to the 30-min timeframe, a perfect example of a head and shoulder can be seen which is a further confluence for this trade.
