looks like a nice short trade set up. here are the reasons: price bounced of trend line, 2. of H. resistance, 3. of 50% fib, 4. nice pin bar on the 4 hour, 5. divergence, 6 pair is in a down trend. and least and last nice risk reward.if i did overlook something, please let me know
eur/gbp now in clear down trend. making lower lows and lower highs. broke through support, came back to retest top of trend channel and rising trend line, bounced of resistance. i would enter at a break of recent range. stop above last swing high, profit target would be the fib expansion level at 1.618 at 0.78997 which would be also at the round number support of...
CHF broke long term trend line and now broke through support, retested it, but could not close above it. watch price action to go short. if it does brake through former support now resistance wait for a retrace to go long
AUD broke through out of a rising trend Chanel, broke through important support and is now carving out a new decreasing channel. a retest of former support now resistance would give a good opportunity to go short with a high risk reward ratio