We have recently seen price recently retest broken trendline however I will be looking to take shorts from 0.5 or 0.618 fib levels as they provide a better value. We are currently in the right shoulder on the daily timeframe and we are also forming a head and shoulders on the 4hour. If we see a clear break of the neckline i will be adding a second position
We are currently seeing price form a bear flag on the lower timeframes. I will be waiting for a clear rejection of the broken channel to confirm this isnt a fake out. Target full retracement. Long term target 0.935
We will be looking for bearish price action to take this market short. We will be waiting to see if the market reaches 81.5 which is an area of edtreme value. We have 0.5 Fib level from recent swing high to swing low, Broken trendline/Neckline of Head of shoulders and the daily 50 EMA. Weill be targetting a full retracement pof trendline.
This trade wast taken at 0.676. We saw a clear expanding wedge forming on the 15m. We also saw a clear rising channel form and was waiting for a break out near the upper trendline. Aso as we saw price break the counter trendline we went short.
Price once again failed break to break half pyshc level 108.5 forming a triple top on the daily. We have now seen price break counter trendline. We will be targeting the 106.3 -105.9 nregion. Stops at 108.6