Hey All,
I would love to hear what you think about this trade that I am thinking of going through with! This double top lands around the fib 0.236, which is also a relatively strong historical resistance. Looking for a retracement down to the first price point (which is the May 10th support), or if it breaks through quickly I'm looking at the second price point, which is a historical support/ fib 0.6180). Lemme know any thoughts, would really appreciate input as I am still a newbie :)
Entry: 1265.28
SL: 1296.87
PL1: 1215.75
PL2: 1197.73
Potential Result: 49-67 pips
I would love to hear what you think about this trade that I am thinking of going through with! This double top lands around the fib 0.236, which is also a relatively strong historical resistance. Looking for a retracement down to the first price point (which is the May 10th support), or if it breaks through quickly I'm looking at the second price point, which is a historical support/ fib 0.6180). Lemme know any thoughts, would really appreciate input as I am still a newbie :)
Entry: 1265.28
SL: 1296.87
PL1: 1215.75
PL2: 1197.73
Potential Result: 49-67 pips