After a massive bullish trend price hits strong resistance level of 1.89500. Placing the Fib I see the levels 78.6 and 61.8 tend to be very strong. Daily candle closure creates a wick (rejection) indicating a loss of momentum and weakness. Lastly, in the 4h price closes below highlighted zone and engulfs. Next daily closures will create the outlook for either a trend continuation or a new bearish trend and in this setup we're looking to take a sell
Comentário:
price has reached our last level of support above last highs, and could proceed down to 1.85500
Still waiting for the break to confirm the shortage on this setup.