TREND - DOWN 4H
RETRACEMENT TO 76.4 FIB
SHORT ON 4H DOWN TREND.
PRICE PULL BACK TO 61.8 FIB LEVEL.
FORMED INDECISION CANDLE.
Short based on the following reasons.
Down trend in 4H
Ending and breakout the correction wave in 4H
Price still below 50MA
Stoch is overbought zone.
Short on pullback.
Double top on 4H.
Price exhausting at 1260 level.
Long on 76.4 fib level.
Based on Pin Bar at resistance and additional confirmation with oversold stoch.
Short based on the daily pinbar at resistance area and the price making lower low in H4 and consolidate below the moving averages.
Explained the reasons on the chart
LONG AT 76.4 FIB LEVEL WITHIN THE CORRECTION FLAG
SHRT SELL TRADE AS PRICE BROKE CORRECTIVE WAVE.
SHORT AT 764 FIB LEVEL WITHIN THE CORRECTIVE WAVE,
PRICE WILL RETRACE TO PREVIOUS LOW BEFORE GO UP.
PRICE IS REJECTRED AT 1.0700 LEVEL AND STOCH MAKING LOE\WER LOW AND LOWER HIGH.
THIS IS CONFIRMING THE REVERSAL.
SHORT IN 1h
short at 0.764 fib level on the correction wave.
Based on price action and it rejected at RES
Long at 76.4 fib level
long at 76.4 fib level
Same set up as usdjpy