Perfect time to go long on this pair.
Overall bearish, however the RSI looks to be picking up momentum again.
Currently in a correction to last weeks big bearish impulse.
Looking to take long entry profits at 61.8% retracement level, which I expect to be the top of a sweet H&S formation.
A 2nd test of the 61.8% will mean we are ready to go short for the big sell off.
Shorts can be entered on the 61.8% and further short entries can be added at the top of the final shoulder in the H&S formation (retest of 38.2%), and on the top of the rest of the pullbacks on the way down for max profits.
I will update if my bias changes.
Please feel free to like and share your views in the comments.
Please use effective risk management and enter on lower timeframes.
DM me if you have any questions.
Safe Trading!!
Overall bearish, however the RSI looks to be picking up momentum again.
Currently in a correction to last weeks big bearish impulse.
Looking to take long entry profits at 61.8% retracement level, which I expect to be the top of a sweet H&S formation.
A 2nd test of the 61.8% will mean we are ready to go short for the big sell off.
Shorts can be entered on the 61.8% and further short entries can be added at the top of the final shoulder in the H&S formation (retest of 38.2%), and on the top of the rest of the pullbacks on the way down for max profits.
I will update if my bias changes.
Please feel free to like and share your views in the comments.
Please use effective risk management and enter on lower timeframes.
DM me if you have any questions.
Safe Trading!!