Good sell opportunity with a decent Risk reward ratio
A few things here
To set stop loss level, it is clear there is a strong resistance at around 1.075, as it bounced back down twice from this price, so 1.08 is a safe level
As for the Reward, Fib and previous structures show there is a potential turn around at about 1.05 (also because its a round number as well)
Let me know what you think guys :)
Broken support line
MACD has just crossed and entered the sell zone, shown by arrow
RSI has a broken pattern as well, indicated by the arrow
To set stop loss level, it is clear there is a strong resistance at around 1.075, as it bounced back down twice from this price, so 1.08 is a safe level
As for the Reward, Fib and previous structures show there is a potential turn around at about 1.05 (also because its a round number as well)
Let me know what you think guys :)
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