1. Multi day supply found at 1.3275 price range (red horizontal)
2. Down trend line resistance. (red solid top)
3. Up trend breakdown pullback resistance. (red uptrend)
4. .236 fib level resistance.
5. 100 bar moving average turning downward.
6. Bar that originally broke 100 MA also broke through down trend range support indicative of sellers testing demand. (red dotted)
7. Slope of 200 bar moving average is not steep and will weaken as price falls.
Targeting price range confluence of .786 fib level, long term up trend line (black bottom), and 200 bar moving average for a 1:+3 risk reward with a conservative stop placed above the last weeks highs.
I have a sell limit at 1.3275 but Ill enter at market if I catch It above 1.3250
2. Down trend line resistance. (red solid top)
3. Up trend breakdown pullback resistance. (red uptrend)
4. .236 fib level resistance.
5. 100 bar moving average turning downward.
6. Bar that originally broke 100 MA also broke through down trend range support indicative of sellers testing demand. (red dotted)
7. Slope of 200 bar moving average is not steep and will weaken as price falls.
Targeting price range confluence of .786 fib level, long term up trend line (black bottom), and 200 bar moving average for a 1:+3 risk reward with a conservative stop placed above the last weeks highs.
I have a sell limit at 1.3275 but Ill enter at market if I catch It above 1.3250