In This chart we see a clear breakout on the 161.8% 4 hourly Fib projection. As well the extension 161.8% has been breached.
Since we are looking in the pitchfork trend for new sell oppertunities we wait for the signal till we reach new resistance. This zone is to be expected around 1.1020 at the 123.6% projections level. Thus, we can also see the 1.1016 on the retracements.
Around that area we will continue our short trend into the trend to target the low on extension II and fib projection low 200% at 1.088 - 108888
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Since we are looking in the pitchfork trend for new sell oppertunities we wait for the signal till we reach new resistance. This zone is to be expected around 1.1020 at the 123.6% projections level. Thus, we can also see the 1.1016 on the retracements.
Around that area we will continue our short trend into the trend to target the low on extension II and fib projection low 200% at 1.088 - 108888
Follow us on Facebook: https://www.facebook.com/240Trade/
Get the latest, up to date trade ideas here: t.me/twofortytradetelegram
Visit our website at: www.240trade.com
Follow my trading system here: https://www.myfxbook.com/members/240Trade/mt4-466949/3482924
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