This trade idea is a study and does not constitute a signal. Trade at your own risk.
Price is currently forming a bearish flag. I'm looking for two scenarios:
1. Price makes its way to the top of the channel, which would be the 50% fib level from swing high to swing low. I would look to sell at that point as noted.
2. Price may not make it to the top of the channel and could breakout from the flag. I would look for a continuation of sell.
Please be sure to like and offer comments; Also please follow me on Instagram and Facebook (links below). Inbox me to learn this forex skill and join my team of profitable traders. You must click the follow link at the bottom right and be sure your notifications are turned on to get updates on this trade idea. I will make updates as we see price action next week.
Price is currently forming a bearish flag. I'm looking for two scenarios:
1. Price makes its way to the top of the channel, which would be the 50% fib level from swing high to swing low. I would look to sell at that point as noted.
2. Price may not make it to the top of the channel and could breakout from the flag. I would look for a continuation of sell.
Please be sure to like and offer comments; Also please follow me on Instagram and Facebook (links below). Inbox me to learn this forex skill and join my team of profitable traders. You must click the follow link at the bottom right and be sure your notifications are turned on to get updates on this trade idea. I will make updates as we see price action next week.