I took profit at this level from the trade posted previously. Despite being at support on the Daily, the 382 fib reaction on the 4 Hour suggest further movement down and so I’m still bearish. This trade has strongly rejected the zone which lines up with previous resistance as well as the fib levels. As if posting this I now have good confirmation of a downward movement with lower lows being made.
Trade geschlossen: Ziel wurde erreicht:
Note: My Stop Loss was actually set above the 200 MA shown on the chart, not where it is shown to be.