Hey traders,
i've been watching this pair for a shorting opportunity for a long time. After banking some pips in a double top opportunuity we saw the market continuing to rally. While price's heading up, power is becoming lesser and lesser, as we can see on the RSI. That tells us that maybe a reverse is ahead.
As soon as price touched the .618 level it's put an long wick to the top candle (selling pressure).
Furthermore, if we scroll the chart we can see previous structure right at this level that also happens to be a psychological number (0,74).
Those reasons all together make me predict a downward move in the imminent future.
The last signal i want to see is a bearish engulfing candle.
At that point, i'm goint to sell the market.
Risk to reward ratio could be very nice.
Let's see.
If you have any question, don't hesitate to ask.
Otherwise, see you in the next chart!
i've been watching this pair for a shorting opportunity for a long time. After banking some pips in a double top opportunuity we saw the market continuing to rally. While price's heading up, power is becoming lesser and lesser, as we can see on the RSI. That tells us that maybe a reverse is ahead.
As soon as price touched the .618 level it's put an long wick to the top candle (selling pressure).
Furthermore, if we scroll the chart we can see previous structure right at this level that also happens to be a psychological number (0,74).
Those reasons all together make me predict a downward move in the imminent future.
The last signal i want to see is a bearish engulfing candle.
At that point, i'm goint to sell the market.
Risk to reward ratio could be very nice.
Let's see.
If you have any question, don't hesitate to ask.
Otherwise, see you in the next chart!
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