Top channel rejection for a sell off
Presented on the 1 hr chart we see a potential pivot in play with top resistance rejection.
Indicators are set to confirm with a full MACD/SIGNAL cross just above the 0 line. This will confirm a sell off in play.
Watch for a pivot at 1.07400. With a MACD/SIGNAL cross through the 0 line the trend may truck right through our pivot zone.
Take profit at current channel bottom support at 1.07200. Stop loss above current resistance with a full close out above.
Please comment with thoughts and ideas. Thank you.
Indicators are set to confirm with a full MACD/SIGNAL cross just above the 0 line. This will confirm a sell off in play.
Watch for a pivot at 1.07400. With a MACD/SIGNAL cross through the 0 line the trend may truck right through our pivot zone.
Take profit at current channel bottom support at 1.07200. Stop loss above current resistance with a full close out above.
Please comment with thoughts and ideas. Thank you.
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