luismialcega
price has bounced at the 61 fib level. we have some divergence from macd. there is a high probability to price goes up to the 136 area. and if it breaks the estructure, a potencial long for long term will be on the table.
if price bounce and shows good indicative for going down, i can see the 38fib level for a potencial take profit.
selling the break out seems to be a good idea. however, once price get to 1.06600 zone the trade will be on break even mode to let it run to the 1.05100 area.
waiting for price to break or bounce t the support of the estructure.
if price bounce, it will have strength enough to go down.
if price break the estructure there will be a long opportunity. macd is showing divergence
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...
not much to say. Could be a really good short. you can open the trade and follow the trade.
as you can see price broke a resistance which is the neck line of the H&S and now is making a re-test of it. next area is an important resistance and also 61% fib level. there is a high probability for 1.3200 area so trade long and be wise with your sl.
the analysis says everything. lets see how it develop. you can sell the e wave (400pips) really good risk/reward. and then catch the big move.