I entered this trade on Monday, but I now believe now is the best time to get in.
Price has hit resistance at significant trendline (red line) around 0.618 fib retracements level.
There is also extra resistance confluences as you can see indicated by the arrows. Price has rejected this region 3 times on the Daily timeframe.
Short trade, but keep an eye on previous support and resistance levels as price could reverse and stall here.
What do you think?
Price has hit resistance at significant trendline (red line) around 0.618 fib retracements level.
There is also extra resistance confluences as you can see indicated by the arrows. Price has rejected this region 3 times on the Daily timeframe.
Short trade, but keep an eye on previous support and resistance levels as price could reverse and stall here.
What do you think?