Price has been in an ascending channel since the start of April.
as you can see price has recently broken the lower trend line of the channel giving me reason to potentially go short once price has retested
the S&R zone i am expecting price to retest lines up nicely with the 61.8% Fibonacci level as well as the descending trend line that connects the high and the most recent lower high, this is where i will be looking to enter
(stop loss just above the recent high @20 pips & my take profit at the -61.8% Fibonacci level @65 pips)
as you can see price has recently broken the lower trend line of the channel giving me reason to potentially go short once price has retested
the S&R zone i am expecting price to retest lines up nicely with the 61.8% Fibonacci level as well as the descending trend line that connects the high and the most recent lower high, this is where i will be looking to enter
(stop loss just above the recent high @20 pips & my take profit at the -61.8% Fibonacci level @65 pips)