Potential Sell
Updated
After a massive bullish trend price hits strong resistance level of 1.89500. Placing the Fib I see the levels 78.6 and 61.8 tend to be very strong. Daily candle closure creates a wick (rejection) indicating a loss of momentum and weakness. Lastly, in the 4h price closes below highlighted zone and engulfs. Next daily closures will create the outlook for either a trend continuation or a new bearish trend and in this setup we're looking to take a sell
Note
Price has been consolidating between our resistance level and our 1.88687 level...Still waiting for the break to confirm the shortage on this setup.
Note
price has reached our last level of support above last highs, and could proceed down to 1.85500
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