This pair has form a nice perfect zigzag visible on D1 chart.
Top down analysis on W1:
- 0.61 fib retracement
- strong level of S/R
- pinbar (shooting star)
- WXY structure
Here at D1 chart:
- perfect ABC zigzag with its internal subdivisions (5-3-5)
- corrective channel
- price bouncing from top of channel
We could enter short here:
- Stop loss above round level 1.7000
- Targets are based on fib retracements, shown on chart.
Happy trading!
Top down analysis on W1:
- 0.61 fib retracement
- strong level of S/R
- pinbar (shooting star)
- WXY structure
Here at D1 chart:
- perfect ABC zigzag with its internal subdivisions (5-3-5)
- corrective channel
- price bouncing from top of channel
We could enter short here:
- Stop loss above round level 1.7000
- Targets are based on fib retracements, shown on chart.
Happy trading!
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.
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.