Hi Traders,
I have been eyeing this setup for most of the week. There is a 2618 selling opportunity very close to market.
This pair has made a triple top (see marked on chart), which is a sign that we may see a bearish reversal and downside continuation in the coming week. I have a position ready to sell at the 61.8% fibonacci retracement, it has extra confirmation as this level comes in line with previous support turned resistance.
I place my stop above the triple top highs, because if price breaks this level I will be wrong.
Targets are at the 100% and 127.2% extensions of the move (See green boxes)
Good trading and have a great weekend all.
Luke
I have been eyeing this setup for most of the week. There is a 2618 selling opportunity very close to market.
This pair has made a triple top (see marked on chart), which is a sign that we may see a bearish reversal and downside continuation in the coming week. I have a position ready to sell at the 61.8% fibonacci retracement, it has extra confirmation as this level comes in line with previous support turned resistance.
I place my stop above the triple top highs, because if price breaks this level I will be wrong.
Targets are at the 100% and 127.2% extensions of the move (See green boxes)
Good trading and have a great weekend all.
Luke
Trade ativo:
Position opened overnight.
Trade fechado: stop atingido