Watch it happen ==> Take the trade ==> Make $$$
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| Price resisted by resistance. See the bearish engulfing pattern and pin bar. Tip: Day chart candlestick patterns are highly reliable when at an important area eg. resistance. This explains why price might have retraced enough and is likely to go down. |
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| We see the next 3 boxes being WR if price manages to close below all of the three box high. |
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| See that point 4 coincides to Fib 5. Lets explore if point 4 is a good resistance level. |
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| Previous support now act as resistance |
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| How to trade it: Await for price to close below 1.26620 in at least h1 timeframe. I prefer to wait for H4 to close below. |
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