We recently saw a break to the downside from a smaller H1 descending triangle and are currently waiting for a retest and rejection from the 119 zone. Current examples of bearish confluence around 119:
- 0.5 Fibonacci retracement
- Previous support from triangle
- Resistance from downtrend
- below H1 EMA 50-200, 50 EMA looking to be resistance
Entry - 118.95
SL - 119.2
TP - 117.76
RR - 4.3:1
Let me know what you guys think and if you enjoyed then please consider leaving a like and following, thanks
- 0.5 Fibonacci retracement
- Previous support from triangle
- Resistance from downtrend
- below H1 EMA 50-200, 50 EMA looking to be resistance
Entry - 118.95
SL - 119.2
TP - 117.76
RR - 4.3:1
Let me know what you guys think and if you enjoyed then please consider leaving a like and following, thanks