Using the following to back a short entry on EUR/GBP on the daily chart:
- inside bar
- resistance at ~0.7120
- mother candle rejects:
- 50 ema and closes below
- 0.786 Fibonacci level and closes below
- Fibonacci cluster
- falling trend line for the 4th time closing within the downward trend channel
- Stochastic hidden bearish divergence (comparison of...
Technicals:
- potential high test bar (rejection pin bar)
- retest of resistance at 0.7550
- retest/rejection of 50 and 20 ema
- 50% Fibonacci retracement rejection
- Convergence on Stochastic and RSI
entry - below low
stop - above high
target - previous swing low or lower