Good evening.
this chart is on a downtrend with a F-Parallel Formation, since the reversal at 1.34000 we have seen 2 retraces with a third insight. being on a downtrend we look for sells, stop loss and prices where we can take profit.
on this pair in particular, I am eying a trendline break between 1.31000 and 1.30800.
I have identified a zone of rejection at 1.31000 where the red horizontal line is placed
the pair is also at 0.618 on the Fibonacci retracement tool
market conditions will prove themselves next week.
patience is key
this chart is on a downtrend with a F-Parallel Formation, since the reversal at 1.34000 we have seen 2 retraces with a third insight. being on a downtrend we look for sells, stop loss and prices where we can take profit.
on this pair in particular, I am eying a trendline break between 1.31000 and 1.30800.
I have identified a zone of rejection at 1.31000 where the red horizontal line is placed
the pair is also at 0.618 on the Fibonacci retracement tool
market conditions will prove themselves next week.
patience is key