Formation of a small triangle. A break out will occur downwards after a small retracement to trendline. Definitely looking for a sell when it breaks the 1.10224 level.
Triangle break out approaching from downward trend. Look for slight retracement to continue downwards (short term). 0.618 level is in play once again. SELL!
Looking for a slight retracement back to resistance level to continue back upward with trend. Slight break of trend line but the bull back will occur around the support level/ 0.618 level. BUY!
A retracement will take place heading back to the trend line and the .618 level. It is also close to a very important resistance level which makes the setup stronger. BUY!
