I have opened up a short position at 08:43am UAE time.
Indicators for short:
- Rejection off the 50 fib level.
- LH made.
- Continuation of the downtrend.
It may of been an early entry as there is potential for movement to the next resistance level.
We shall find out!
Double bottoms formation. Neckline as been breached but looks like its pulling back. I've a set price alert at 0.65117 and will reassess the direction of the pair. If you're using this as advice, do not buy just yet. Wait for that price alert and then go from there.
Also you have core retail sales data coming out today from the US at 1:30pm GMT (London). If the...
As you can see, we have a well formed descending triangle with the breakout in process. With the breakout taking place within 50-70% of the triangle this is bearish sign.
Research tells us that we should us the base of the triangle as a take profit. If my prediction is correct were looking to close our position at around 93.