Price has ended a correction with a sharp move below the lower trendline and it's now consolidating. A small ABC pattern is about to complete which will end the smaller corrective structure. Two options to sell this pair:
1. We may enter from the 0.618 fib level as shown to the chart. It's more risky than option 2 as price may continue higher. But this setup has great risk reward ratio.
2. Wait fir this smaller correction to be over with a breakout and then go short.
Like and comment if you agree.
1. We may enter from the 0.618 fib level as shown to the chart. It's more risky than option 2 as price may continue higher. But this setup has great risk reward ratio.
2. Wait fir this smaller correction to be over with a breakout and then go short.
Like and comment if you agree.
