Structure short, pin bar rejection of resistance!
Well the Friday candle closed as a pin-bar at the daily 382 Fibonacci resistance level, which is a good signal to enter short IMO. Also price closed below the 200 Moving Average confluent with the Fibonacci resistance and the weekly R1 Resistance (Not shown, pivots shown are the monthly pivots).
Stops: Above 179.25 around the monthly pivot (Also 50% Fibonacci resistance)
Will be moved to B/E upon reaching target 1.
Targets:
Cheers, happy trading =)
Stops: Above 179.25 around the monthly pivot (Also 50% Fibonacci resistance)
Will be moved to B/E upon reaching target 1.
Targets:
- TP1 176.00
- TP2 172.25
Cheers, happy trading =)
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