Resistance with double top
Clearly a double top with RSI divergence which means strong probability of retracement back to the FIB .50/ .618
Aggressive entry at market stop wight 5-8 pip above double top.
More conservative entry with close below below double top with stops above double top which.
Target profit 1- fib .50 retracement
Target profit 2- fib .618 retracement
P.S. I rather wait to enter long on retracement of Fib .50 to retest the high. either way its a good probability trade with nice risk reward ratio.
Aggressive entry at market stop wight 5-8 pip above double top.
More conservative entry with close below below double top with stops above double top which.
Target profit 1- fib .50 retracement
Target profit 2- fib .618 retracement
P.S. I rather wait to enter long on retracement of Fib .50 to retest the high. either way its a good probability trade with nice risk reward ratio.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.