Bearish pin bar at 61.8% of previous impulse move down coupled with descending trendline and 100 & 200 MA. It's a tough resistance to break through. Could we potentially see this pair fall this week?
I'll be looking for opportunities to short this pair on lower timeframes with target at the previous swing low which happens to coincide with the fib level too.
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H1 short opportunity: I'll go short on the retest if price breaks below trendline
Zlecenie aktywne
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Short-term sell trade active. Stop @ 1.2598, TP area as shown. 1:3 RR ratio
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Set-up going according to plan so far. This wasn't a position I took as I'm in other USD crosses. But I could potentially look for an entry on H1 or H4 in the near future.
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Am currently in a LONG position. Would be interesting to see how price plays out on the Daily timeframe. Break or reject? It'll tell by the candle close.