VERY NICE SETUP WITH FIBO, MAs AND PRICE(0.75 AND BEARISH ENGULFING REJECTION PATTERN)
D1:
PRICE MET RESISTANCE AT D1 50 AND 20 SMA.
THE SHARP MOVEMENT DUE TO FOMC YESTERDAY WAS CONTAINED UNDERNEATH THE 50SMA, PROVING IT TO BE STRONG RESISTANCE.
PRICE ALSO MANAGED TO CLOSE NEAR THE 61.8% FIB D1.
PRICE ALSO FAKED THE 0.75 LEVEL.
H4:
60 PIPS BEARISH ENGULFING FORMED CONFIRMING RESUMPTION OF BEARISH BIAS (SHORT/LONG TERM).
PRICE REJECTED FROM 0.75.
THOUGH PRICE IS TRADING ABOVE 50 AND 20 SMA H4, I TAKE THE D1 SMA AS OVERALL PRIORITY.
ENTER SELL @ 0.748. TRADE INVALID IF PRICE MANAGES TO CLOSE ABOVE 0.75 ON D1
D1:
PRICE MET RESISTANCE AT D1 50 AND 20 SMA.
THE SHARP MOVEMENT DUE TO FOMC YESTERDAY WAS CONTAINED UNDERNEATH THE 50SMA, PROVING IT TO BE STRONG RESISTANCE.
PRICE ALSO MANAGED TO CLOSE NEAR THE 61.8% FIB D1.
PRICE ALSO FAKED THE 0.75 LEVEL.
H4:
60 PIPS BEARISH ENGULFING FORMED CONFIRMING RESUMPTION OF BEARISH BIAS (SHORT/LONG TERM).
PRICE REJECTED FROM 0.75.
THOUGH PRICE IS TRADING ABOVE 50 AND 20 SMA H4, I TAKE THE D1 SMA AS OVERALL PRIORITY.
ENTER SELL @ 0.748. TRADE INVALID IF PRICE MANAGES TO CLOSE ABOVE 0.75 ON D1