The price broke ascending channel. I am bias towards short and the factors to be consider as below :
1. The wave 4 is perfectly touch fibo 61.8 of wave 3
2. Based on fibo extension, the wave 5 most probably will continue the short until (0.618-0.786) where there is also a support area created on 16 April 2021.
3. New resistance is between 1778-1780.
The entry idea :
Short from 1778 with tight SL (1781)
Take profit at 1766
MM is very important due to upcoming FOMC. Trade on your own risk and good luck everyone.
1. The wave 4 is perfectly touch fibo 61.8 of wave 3
2. Based on fibo extension, the wave 5 most probably will continue the short until (0.618-0.786) where there is also a support area created on 16 April 2021.
3. New resistance is between 1778-1780.
The entry idea :
Short from 1778 with tight SL (1781)
Take profit at 1766
MM is very important due to upcoming FOMC. Trade on your own risk and good luck everyone.