* Won't be entering this trade due to R&R - SL would need to be 60 pips which is too high *
Top Down Approach:
Identified the weekly resistance area which is @ 1.83844 - Blue
Identified daily key level l @ 1.80806 - Price has respected this are many times in the past
The market is showing strong bearish movement after respecting the daily level
Weekly shows 4 candles each smaller than the last as it broke the daily level mentioned above
^ this is good confirmation that bearish momentun is beginning
This set up is purely to look back on, no trade will be taken.
Top Down Approach:
Identified the weekly resistance area which is @ 1.83844 - Blue
Identified daily key level l @ 1.80806 - Price has respected this are many times in the past
The market is showing strong bearish movement after respecting the daily level
Weekly shows 4 candles each smaller than the last as it broke the daily level mentioned above
^ this is good confirmation that bearish momentun is beginning
This set up is purely to look back on, no trade will be taken.