price is reaching the structure high at 194.5 that acts as a resistance level
. The recent few bars show that there is buying momentum and the price went little up and if it reaches the 88.6 fibo retracement then it completes the bat pattern
. This will increases the probability of this trading setup to go short. The best approach here is to wait the market to make moves and once it is confirmed that the resistance rejected the price, then I will place the sell order.
T1 – 38.2%
T2 – 61.8%