The resistance level has been holding well and the support trend line broke on Friday indicating possible change in the trend.
I will be looking to sell IF the following conditions are met:
I have marked with the yellow bar the 50 and 61.8 fibo levels based on the last bearish move. I want to see if this level will be tested and IF a sell signal prints, to consider shorting this pair
The area of interest is 75.296 for the entry and
Stop just above the fibo levels with enough room to breathe @ 76.400 and
Take profit lower down @ 72.974 (note the incremental tp levels marked with red lines)
As usual, don't bet the farm and exercise good risk management.
For more info on exact entry and trade management feel free to follow me in Forex Bootcamp using the Telegram link below
I will be looking to sell IF the following conditions are met:
I have marked with the yellow bar the 50 and 61.8 fibo levels based on the last bearish move. I want to see if this level will be tested and IF a sell signal prints, to consider shorting this pair
The area of interest is 75.296 for the entry and
Stop just above the fibo levels with enough room to breathe @ 76.400 and
Take profit lower down @ 72.974 (note the incremental tp levels marked with red lines)
As usual, don't bet the farm and exercise good risk management.
For more info on exact entry and trade management feel free to follow me in Forex Bootcamp using the Telegram link below