On the H4, prices are on a bearish momentum and are experiencing a squeeze at our Pivot which is a recent graphical swing high. We see a potential dip from our 1st resistance at 0.68309 in line with 100% Fibonacci extension towards our 1st support at 0.67608 in line with 61.8% Fibonacci extension and 61.8% Fibonacci retracement. With RSI at a level where dips previously occurred and also Ichimoku forecasting a dip, we see potential for further bearish movement. Alternatively, our stop loss will be placed at 2nd resistance at 0.68560 in line with 127.2% Fibonacci extension.
Trading Recommendation
Entry: 0.68309
Reason for Entry:
100% Fibonacci extension
Take Profit: 0.67608
Reason for Take Profit:
61.8% Fibonacci extension and 61.8% Fibonacci retracement
Stop Loss: 0.68560
Reason for Stop Loss:
127.2% Fibonacci extensionThe material has been provided by InstaForex Company - www.instaforex.com
http://dlvr.it/SG4g8l
Are you a forex trader or affiliate marketter that wants to trade forex or make money online.we have the best tips for you here.
Subscribe to:
Post Comments (Atom)
SEASON THREE OF EMMY® AWARD-WINNING COMEDY SERIES FX'S “THE BEAR ...
... FX's “The Bear” will premiere its third season on Thursday, 27th of June only on Disney+ in the UK with all episodes available at ...
-
IS CFD TRADING WORTH ITTORIAL: Trading Stock CFDs Worth It? ๐ A topic that is only tangential to Forex, the question of whether to trade st...
-
FX Eagle Dashboard Forex System provides extraordinary trading assistance for its users. THE CURRENCY MATRIX. The indicators are all avai...
-
Cryptocurrency exchanges operating in South Africa have until November 30 to register with the country’s financial regulator. Those who wi...
No comments:
Post a Comment