Good Morning Traders,
According to my strategy, this currency pair meets my conditions of a sell. Price broke last higher low on the 4H time-frame, thus creating a lower low. On H1, the market retraced up to a strong resistance zone, which is the 0.382 Fibonacci. I'm looking for bullish exhaustion candlesticks at this level along with a bearish pattern formation. A break of this resistance will indicate a change in market trend and therefore this setup will no longer be valid.
I hope you all have a great trading week. Stay strong!
According to my strategy, this currency pair meets my conditions of a sell. Price broke last higher low on the 4H time-frame, thus creating a lower low. On H1, the market retraced up to a strong resistance zone, which is the 0.382 Fibonacci. I'm looking for bullish exhaustion candlesticks at this level along with a bearish pattern formation. A break of this resistance will indicate a change in market trend and therefore this setup will no longer be valid.
I hope you all have a great trading week. Stay strong!