The pair has been trading within a channel from a broader look (W1). Price has tested the resistance level from the structure. Now, it should move downward to complete the next leg towards the channel's support line.
At H4, the price could not form a new fresh high, signaling the bearish pressure. After the current strong bearish candle, a pullback towards the recently broken support zone from the previous consolidation should be tested to trigger a short entry.
The order:
Type: sell-limit
S/L: 77 pips - R:R | 1:2.3 -
T/P: Fib level 0.5 as reversal point.
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At H4, the price could not form a new fresh high, signaling the bearish pressure. After the current strong bearish candle, a pullback towards the recently broken support zone from the previous consolidation should be tested to trigger a short entry.
The order:
Type: sell-limit
S/L: 77 pips - R:R | 1:2.3 -
T/P: Fib level 0.5 as reversal point.
--
*** If you like the idea, don't be shy, click on like and comment. If you do not agree, just comment ;-) | Thanks for your support!!! ***
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