Let's see why a short trade is possible at these levels.
1.Price after that relief rally to the upside is showing behaviour with this which was created today.
2.Price is at critical level as at that same level we have the neck line of the pattern created and if zoom out this level is a very strong level at the weekly and monthly chart.
3.If we drag the we can see that the is coincides perfectly with the important 50% and 61.8% Fibonacci levels.
4.Buying is reducing as we are reaching this important level.
5.Longer term trend is .
6. indicator is near to neutral level despite the strong move up which shows lack of momentum.
ENTRY AT 1.2840
BUY STOP AT 1.29050
TARGET 1 AT 1.26650
TARGET 2 AT 1.25300
THANKS FOR SUPPORT!
KEEP FOLLOWING FOR MORE PROFITS!!
DON'T HESITATE TO LEAVE A COMMENT OR A QUESTION YOU MIGHT HAVE!!