After a strong rally this pair needs a pullback and here is a good setup on H4 chart that could word fine:
- bollinger band duplication
- rsi extremely overbought
- ema 200 acting as resistance
- near 0.61 fib retracement
SL above 0.61 fib retracement level
Target 1 - middle of bollinger band
Target 2 - opposite bollinger band
Regards
*****************DISCLAMER********************************************************************
This is just and idea, not a recommendation to buy or sell.
Always do your own analysis before opening a trade.
Managing is 60% of a trade, anytime I may decide not to open, close or even stop and reverse a trade depending on price action.
Any respectful and constructive ideas are welcome (agree or disagree).
- bollinger band duplication
- rsi extremely overbought
- ema 200 acting as resistance
- near 0.61 fib retracement
SL above 0.61 fib retracement level
Target 1 - middle of bollinger band
Target 2 - opposite bollinger band
Regards
*****************DISCLAMER********************************************************************
This is just and idea, not a recommendation to buy or sell.
Always do your own analysis before opening a trade.
Managing is 60% of a trade, anytime I may decide not to open, close or even stop and reverse a trade depending on price action.
Any respectful and constructive ideas are welcome (agree or disagree).
