Hi
I mainly use this to test my ideas
Couple of reasons as why we are going short
1. Over bought on 30m - 4hr
2. At the time possible evening start forming on 4hr
3. Strong Resistance at current price
4. Needs a retracement
5. We are also seeing RSI divergence and other indicators are saying to sell
I also believe that if we are lucky we may see the end of the short position, but first a 50% retracement is required then a possible 85% from there we will continue to head north completing the Inverted head and shoulders on the weekly Chart
The inverted head and shoulders will also play vital in the USD as with a recession coming for US we will see a a rise in this pair
I mainly use this to test my ideas
Couple of reasons as why we are going short
1. Over bought on 30m - 4hr
2. At the time possible evening start forming on 4hr
3. Strong Resistance at current price
4. Needs a retracement
5. We are also seeing RSI divergence and other indicators are saying to sell
I also believe that if we are lucky we may see the end of the short position, but first a 50% retracement is required then a possible 85% from there we will continue to head north completing the Inverted head and shoulders on the weekly Chart
The inverted head and shoulders will also play vital in the USD as with a recession coming for US we will see a a rise in this pair