as you can see price touched the 1.28300 area and bounced.
now price is really close to the 61%fib level and it is inside of an ascending channel.
reasons for short:
61%fib level zone.
Price is making a estructure (channel) so it is not showing strength for bullish continuation.
RSI shows divergence.
i would like to see a test of the 61%fib level. i mean, id like price goes little up more without breaking the channel to make a short to the support of the channel which is also 38%fib level.
how ever, once price is at the 1.30700 area and break this area i will be short to the next support holding at breakeven to the -27%fib level.
now price is really close to the 61%fib level and it is inside of an ascending channel.
reasons for short:
61%fib level zone.
Price is making a estructure (channel) so it is not showing strength for bullish continuation.
RSI shows divergence.
i would like to see a test of the 61%fib level. i mean, id like price goes little up more without breaking the channel to make a short to the support of the channel which is also 38%fib level.
how ever, once price is at the 1.30700 area and break this area i will be short to the next support holding at breakeven to the -27%fib level.
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.
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.