Reasons for
-Firstly as we can see on higher time frames we are down trending
-We have come to our key level at 0.75000 and shown a strong level of RES numerous times
-Also our Fibonacci Lines up perfectly with our key level which price has reacted to at 61.8% level
-Now the retrace is over we can look to go short !
-Also We are in a corrective structure ! selling the break of the channel would be the best thing to do if you want to be conservative !
-Also the overall look of price action in this area is very bearish
If we go to the daily we have been in a area of congestion at 0.7500 which gives me we are ready for the last impulse to the down side
Trade with care with guys
1-2% Risk :)
-Firstly as we can see on higher time frames we are down trending
-We have come to our key level at 0.75000 and shown a strong level of RES numerous times
-Also our Fibonacci Lines up perfectly with our key level which price has reacted to at 61.8% level
-Now the retrace is over we can look to go short !
-Also We are in a corrective structure ! selling the break of the channel would be the best thing to do if you want to be conservative !
-Also the overall look of price action in this area is very bearish
If we go to the daily we have been in a area of congestion at 0.7500 which gives me we are ready for the last impulse to the down side
Trade with care with guys
1-2% Risk :)