0.6365 marks a key level. Price surged above this level twice and then quickly reversed. We're clearly seeing selling volume as price is testing what's considered as both the 1-hour and 4-hour resistance.
At the same time, price is also failing to make significant highs. This entry is based on on the weak buying pressure that consists of a pull back after a bearish move.
as you can see the price has broken out of the channel and has now pulled back to the 0.5 fib which also corresponds with retesting the channel.
if respected, awaiting engulfing candle to go short.
TP1 - 0.382 fib
TP2: - 0.5 fib
welcome to another free trade-plan.
Important: This is meant to be a preparation for you. As always we will have to wait for a confirmation.
Market Sell-Order: 0,62625
Target 1: 0,61670
Target 2: 0,60830
Target 3: 0,60150
Stop-Loss: 90 pips
Risk: 1% -2%