Bearish Shark pattern.
Price got rejected at the upper resistance level, and I believe that price will go down to the previous resistance zone between
1.1690 and 1.1662.
That is my target level as there is no 'real' support till there. Conservative entry would be when price closes below the 10SMA (blue line), and aggressive entry would be now.
Target: 1.671 (61.8% Fibo retracement)
Place stops above 1.1860, or above the upper resistance level.
Pay attention to price when it comes down to the 1.1690 - 1.1662 level, if that level becomes support then back up we go.
Happy trading
Price got rejected at the upper resistance level, and I believe that price will go down to the previous resistance zone between
1.1690 and 1.1662.
That is my target level as there is no 'real' support till there. Conservative entry would be when price closes below the 10SMA (blue line), and aggressive entry would be now.
Target: 1.671 (61.8% Fibo retracement)
Place stops above 1.1860, or above the upper resistance level.
Pay attention to price when it comes down to the 1.1690 - 1.1662 level, if that level becomes support then back up we go.
Happy trading