Daily - Market was in downtrend from March to July, before rallying back up and stalled at 50% retracement of the downtrend. That is also a resistance zone if we look left.
H4 - We can see a double top formation with price broken below the neckline around 1.09 and is now potentially retracing upward towards 61.8% fib retracement for a 2618 trade. Will be looking to short at the sell zone to be in line with daily trend.
H4 - We can see a double top formation with price broken below the neckline around 1.09 and is now potentially retracing upward towards 61.8% fib retracement for a 2618 trade. Will be looking to short at the sell zone to be in line with daily trend.
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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.