After the impulse move to the down side price has put in a bear flag. Price broke out to the upside to retest the 382 fib retrace level. I am expecting this to be a false breakout. I entered short with the lower low lower close on the 1hr. Stop is just above the swing high. I will be looking for the completion of the AB=CD down at 1.1605 level. I will be looking to trail stop as price moves lower. IF my prediction is correct.
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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.