Price reacting to a reversal zone drawn up with good old Fibs. Nice momentum to the downside now & it could be a big trade.
Indicators showing over bought too which supports the move down. We also have Diversion on the MACD.
To play it safe, I would suggest waiting until you get a bearish flag which may happen on the next trend line that it's heading towards.
I'm already short on this pair so holding my position & this could potentially be a big trade as i'm bearish from the higher time frame. Good luck :)
Indicators showing over bought too which supports the move down. We also have Diversion on the MACD.
To play it safe, I would suggest waiting until you get a bearish flag which may happen on the next trend line that it's heading towards.
I'm already short on this pair so holding my position & this could potentially be a big trade as i'm bearish from the higher time frame. Good luck :)