1. RSI bearish exit
2. Price testing channel resistance
3. Major resistance at 0.74660: Fibonacci retracement (50%), horizontal resistance overlap, descending resistance line
4. Stop loss at 0.74856 (61.8% Fibonacci retracement, horizontal resistance overlap), Sell Entry at 0.74638 (50% Fibonacci retracement, horizontal resistance overlap), Take Profit at 0.74207 (61.8% Fibonacci retracement, horizontal support overlap)
2. Price testing channel resistance
3. Major resistance at 0.74660: Fibonacci retracement (50%), horizontal resistance overlap, descending resistance line
4. Stop loss at 0.74856 (61.8% Fibonacci retracement, horizontal resistance overlap), Sell Entry at 0.74638 (50% Fibonacci retracement, horizontal resistance overlap), Take Profit at 0.74207 (61.8% Fibonacci retracement, horizontal support overlap)
Bình luận:
Profit Target reached
Đóng lệnh: đạt mục tiêu:
Descending resistance line (channel formation in this case), horizontal resistance overlap, 50% Fibonacci retracement level - these 3 makes it a strong major resistance and hence a good entry for a short position
Bình luận:
43 pips, 1:2 risk reward ratio