We're seeing a significant and pretty clear divergence in the RSI and MACD on both the 1 hour and 4 hour charts indicating a potential trend reversal to the downside 618 fib.
My trade entries will be shorts at 4.65 4.68 4.70 4.85
@ 25% of my initial risk size. I recommended trading with 5% of your stack on this particular trade.
Take Profits (TP)
@
4.2 4.4 4.45 4.5
ALWAYS REMEMBER TO USE A STOPLOSS For this trade I would recommend setting a heavy stop loss at 5.05 and 4.8 where we are seeing some heavy resistance
With the pattern intact we should be seeing the trend reversal within 24-48 hours and given the momentum of the previous movement range, we should be capped at about 4.1.