7:1 Risk Reward Short To Major Support
Yeah, so the chart most likely tells more than words. But, anyway, the last week closed as a bearish engulfing on a daily chart, and I expect this to be just a retest.
From swing high to swing low drawn fib retracement shows that the price is sitting on a 61.8 % fib, which gives us an excellent risk to reward to this trade as the stop loss is just slightly above it. Major support is most likely to be tested before the pair decides which way it will continue going.
From swing high to swing low drawn fib retracement shows that the price is sitting on a 61.8 % fib, which gives us an excellent risk to reward to this trade as the stop loss is just slightly above it. Major support is most likely to be tested before the pair decides which way it will continue going.
Trade closed: target reached