Possible short setup with a lot of confluence. Just waiting for the candle to finish forming. * Strong Resistance @ 104.00 * 50-61.8 Fib retrace * Deceleration Present * Double Top * With Trend * Inside Bar * Stochastic RSI Indicates OVERBOUGHT = 100
Waiting on reversal candlestick Signal. Looking to take profit at .77000. Ideal R:R would be atleast 2:1. Happy Trading
Possible Short Entry #1 - This entry would be a nice retest after a breakout to 1.100 resistance and a possible rejection of the trend line. Possible Short Entry #2 - If no Entry signals appear around the first target then a entry at the apex of the trendline and the 1.110 level would also be a great a opportunity Entry Signal: Reversal Candle Stick Pattern
Bullish Deceleration with a Reversal Candlestick pattern would make this setup A+ for me. Cheers