Shorting from 61.8 % Fib
All MA's are in a regular place and order like in a downtrend (First 100MA, then 50MA and 25MA) in a 4H timeframe. Even though, 25MA is going to cross the 50MA above and looking for a place to cross the 100MA. Considering the clear downtrend in 4H timeframe, where the price has drawn the lower low (0.6487), we are looking to short from 61.8 % Fib level.
In this trade, we are assuming the downtrend continuation, but want to decrease the amount of probable loss by setting a proper risk/reward ration = 1.5.
In this trade, we are assuming the downtrend continuation, but want to decrease the amount of probable loss by setting a proper risk/reward ration = 1.5.
Trade closed: stop reached
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