There is a strong downtrend in this pair, and I consider it highly probable to see a new move down, completing the 1.618 extension of the last swing, which also matches an AB=CD proportion from the first swing down to the mode of the downtrend (most frequent price or accepted 'fair' value, based on Tim West's approach).
The signal is clear so I will set my orders the following way:
-Sell stop order under the previous daily low
-3 Limit sells at 0.751, 0.752 and 0.753 in order to capture the retracement high if any.
-Order size is picked based on having a 2.5% loss if all stops get triggered.
Good luck!
The signal is clear so I will set my orders the following way:
-Sell stop order under the previous daily low
-3 Limit sells at 0.751, 0.752 and 0.753 in order to capture the retracement high if any.
-Order size is picked based on having a 2.5% loss if all stops get triggered.
Good luck!
