TRADE IDEA:
Sell within LOW RISK price zone, with a .85 target. There is strong resistance (highs and lows from 2013) and fib levels overlapping.
In order to get into LOW RISK zone, we have the daily 50ma and 4H 200ma as resistance between .9100 and .9050.
This price level is also around the 23% Fib level. These levels may hold and give an opportunity to sell, granted we get a 4H Stochastics and MACD cross.
Keep it simple stupid!
Sell within LOW RISK price zone, with a .85 target. There is strong resistance (highs and lows from 2013) and fib levels overlapping.
In order to get into LOW RISK zone, we have the daily 50ma and 4H 200ma as resistance between .9100 and .9050.
This price level is also around the 23% Fib level. These levels may hold and give an opportunity to sell, granted we get a 4H Stochastics and MACD cross.
Keep it simple stupid!