Trending market, overall downtrend. Price met the liquidity area which aligns with 61,8% fib retracement level. Daily bearish closure, 6h chart bearish engulfing on the 61,8 Fib level.
Targeting 115.00-114.00ish (key psychological round number level). May be held out for price to meet Fib extension levels.
Stops above 116.50 level.
Targeting 115.00-114.00ish (key psychological round number level). May be held out for price to meet Fib extension levels.
Stops above 116.50 level.
Note
Entry should be adjusted to around 116.50 as the lower timeframe 61,8 fib extension aligns with long term fib 61,8% level.
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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.