EU Sell

Jan 23, 2022

M: Downtrend, broke through and retested for the buy
W: Downtrend, broke through and retesting
D: Downtrend, hit -61.8 and consolidating at weekly level.
4H: Price was in downtrend, hit -61.8 on 4H fib. Price is consolidating at a weekly level.
1H: Downtrend. Price retraced to 23.6 (continuation) so far. However, RSI is Bullish and price is breaking trendline.

CURRENTLY: On the minor structure, price was in an uptrend, hit -61.8 and reversed for the sell, breaking mino trendline.

I am looking for price to retest minor trendline then trade the sell to 1HR trendline or previous resistance area, which is -27 on 1HR FIB

~70 pips

Jan 24, 2022

Trade closed: target reached

Price retested minor trendline then sold to 1HR trendline

Jan 25, 2022

Trade closed: target reached

Price dropped further to -27 on the FIB.
If you held the trade, you'd have picked up an extra 30 pips.


I'm going to wait to see if this MAY drop further, to -61.8, before I start looking for Buys

Jan 25, 2022

Note

If price pulls back and retests the 1HR uptrend, at the support level, I may look for sells to -61.8