My clues,
X-A 61.8% fibo reversal
1.618 fib extension
Overbought condition
Trend line resistance
We also have historical support and resistance zone within stop loss.
Target 1 - 0.382 fib of the leg
Target 2 - historical support and resistance zone, just above 0.618 fib of the leg.
If, however...
Plan B, if break and close above the falling trend line, I will look for opportunity to get long on this pair.
X-A 61.8% fibo reversal
1.618 fib extension
Overbought condition
Trend line resistance
We also have historical support and resistance zone within stop loss.
Target 1 - 0.382 fib of the leg
Target 2 - historical support and resistance zone, just above 0.618 fib of the leg.
If, however...
Plan B, if break and close above the falling trend line, I will look for opportunity to get long on this pair.
Trade closed: target reached
Target 1 reached, rolling stop loss to break even.Note
Stopped out on break even for second half
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.