Looking at the past two weeks of short. I'll be looking for a weekly low to be set and then a sustained rise in prices for the first few days this week. There are going to be many 15m and 1h short term opportunities both long and short for this pair. Long term I'm thinking Long.
4hr is meeting the trendline after having 4-5 touches of the top of consolidation zone.
Daily momentum decreased showing bear pull and bull weakening.
RSI divergence present.
this looks like a strong sell opportunity if the trends are respected.
orange, red, blue are respectively weekly, daily, and 240 trend and support/ resistance.
I'm looking for a double top scenario for a short position 2618 trade.
4h candle has closed beneath weekly support, so it could just continue bearish.
This pair is one to watch this week.
Consolidation continues; however, within the next 24 hours a continuation of the bearish trend should continue.
Less than .382 fib retracement before continuing downtrend, symmetrical pole movement.
Limits set at the trendline.
Setting stops at 1.11900 to being the roll, and targets between 1.11190 - 1.10820.
Re-evaluation at 1.11190 to continue.