Retrace to Short Position
After observation on Day 1, we still have a continuation pattern to the downside.
Our first major sell off bouncing off 1.9589 with a retracement going up wards to Resistance/Old Support @ 1.9690.
Stochastics in an Overbought condition suggesting Shorting is higher probability.
Expecting more downside as the week progresses, but we still have to take into consideration retracements and possible turn around back to the upside this week.
Happy Hunting.
Our first major sell off bouncing off 1.9589 with a retracement going up wards to Resistance/Old Support @ 1.9690.
Stochastics in an Overbought condition suggesting Shorting is higher probability.
Expecting more downside as the week progresses, but we still have to take into consideration retracements and possible turn around back to the upside this week.
Happy Hunting.
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.