Shorting from 61.8 % Fib
All MA's are in a regular place and order like in a downtrend (First 100MA, then 50MA and 25MA) in a 4H timeframe. Even though, 25MA is going to cross the 50MA above and looking for a place to cross the 100MA. Considering the clear downtrend in 4H timeframe, where the price has drawn the lower low (0.6487), we are looking to short from 61.8 % Fib level.
In this trade, we are assuming the downtrend continuation, but want to decrease the amount of probable loss by setting a proper risk/reward ration = 1.5.
In this trade, we are assuming the downtrend continuation, but want to decrease the amount of probable loss by setting a proper risk/reward ration = 1.5.
Trade closed: stop reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.