Hey traders
Here we have a potentially nice setup forming.
Price has reversed within the 50.0% & 61.8% fib retracement.
Price has reversed on previous structure formed earlier this month.
Multiple lower lows and lower highs forming.
MA lines have crossed showing a change in trend on the hourly chart.
RSI has touched the 30% oversold mark previously but selling has continued to keep price bearish.
I know some traders have already entered this trade, however i'm going to wait until price moves below the current structure zone it sitting on, this move may only be a matter of hours.
So potentially enter around:112.75
TP1: 112.00
TP2: 110.00
SL: 113.50
Good luck traders, let me know your thoughts.
Plan your trade, trade your plan.
Here we have a potentially nice setup forming.
Price has reversed within the 50.0% & 61.8% fib retracement.
Price has reversed on previous structure formed earlier this month.
Multiple lower lows and lower highs forming.
MA lines have crossed showing a change in trend on the hourly chart.
RSI has touched the 30% oversold mark previously but selling has continued to keep price bearish.
I know some traders have already entered this trade, however i'm going to wait until price moves below the current structure zone it sitting on, this move may only be a matter of hours.
So potentially enter around:112.75
TP1: 112.00
TP2: 110.00
SL: 113.50
Good luck traders, let me know your thoughts.
Plan your trade, trade your plan.