Indicators:
Stoch RSI overbought on weekly and Monthly charts
Current price is @ 61.8 Fib level from the previous high on Monthly chart
Trade setup:
Entry at current level @ 0.73200
Stop loss @ 0.74200 = 1.17% loss
Take profit @ 0.63 which is around 61.8 Fib retracement level from current prices = 13.90% gain
Trailing stop of 150 pips monitoring...
On weekly chart:
StochRSI: Overbought
Reverse signal from previous level
Setup:
Entry at around 1.18600-1.1800
Stop loss at previous level around 1.2100 = 2% loss
Take profit at around 1.14050 = 3.80% gain
Take profit at around 1.10010 = 7.20% gain
1. RSI oversold territory;
2. RSI small divergence short bias.
A. Watch for first level at $48 target;
B. Watch major Fib level at $45 target, which is also a major previous resistance level that could become support.
1. Bearish trend in weekly chart:
2. Fibonacci retracement level around $25-27$ reached from previous high in Septembre 2018;
3. Upward trend since the begining of the year losing momentum and volume to back it up to newer hights;
A. To watch recent support level at around $15-$16 for any bounce back or breakout;
B. To watch major support level at around...
