Looking for a continuation to the downside.
Keep an eye out on price action around the 61.8%, 4 hour 50ema and previous market structure (1.6195).
If we start to see candles of indecision (spinning tops/dojo’s) this is a good indication that price is decelerating within an area of interest.
Even with generous Stops (50-60 pips) above structure this still offers a fantastic RR targeting the -27% and previous low.
Instagram: @TheTravelTrader (www.instagram.com/thetraveltrader)
Twitter: @fx_ollie (twitter.com/fx_ollie)
Keep an eye out on price action around the 61.8%, 4 hour 50ema and previous market structure (1.6195).
If we start to see candles of indecision (spinning tops/dojo’s) this is a good indication that price is decelerating within an area of interest.
Even with generous Stops (50-60 pips) above structure this still offers a fantastic RR targeting the -27% and previous low.
Instagram: @TheTravelTrader (www.instagram.com/thetraveltrader)
Twitter: @fx_ollie (twitter.com/fx_ollie)