Just entered a short on this pair! Analysis on chart!
My CTS was as follows :
1. Minor structure
2. Overbought on 4 hour, 1 hour and 15 minute
3. Double top
4. Bearish divergence
5. 1.272 Fib extension
6. 1.414 Fib extension
Entry - low of bearish engulfing candle (1 hour chart) marked with the pink horizontal - 123.35
SL - Above highs of double top - 123.55
TP - Back down to structure - 122.90
Risk reward - Over a 2:1
Any comments and or constructive critisism is welcome!
Happy trading everyone!
My CTS was as follows :
1. Minor structure
2. Overbought on 4 hour, 1 hour and 15 minute
3. Double top
4. Bearish divergence
5. 1.272 Fib extension
6. 1.414 Fib extension
Entry - low of bearish engulfing candle (1 hour chart) marked with the pink horizontal - 123.35
SL - Above highs of double top - 123.55
TP - Back down to structure - 122.90
Risk reward - Over a 2:1
Any comments and or constructive critisism is welcome!
Happy trading everyone!