dharma_fx

dharma_fx

reasons for short: break/retest of horizontal S/R level 4 hour 50 ema third touch of the trend line 61.8% fib previous low is already broken and could be the sign of the next leg down. TP at 200 EMA SL above 75% fib Risks: previously rejected the 4 hour 200 EMA, therefore not going to push it further down. You could take the risk and push it to 95 pips

dharma_fx Updated 

Quick long position. reasons for long: 3th touch TL srtong horizontal support level 38.2%fib 4 hour 200 EMA A higher high and higher low are already formed. TP just below last high SL just below last low