Today, we will share a short setup on FOREX
The main idea here is:
a) The price was inside an ascending channel, and we have a bearish breakout
b) After that first impulse, we are observing a pullback (retest of a broken area)
c) From a technical perspective, pullbacks are continuation structures.
d) Now we have a clear corrective structure, and we will trade below B with the target on the last Fibonacci Extension
e) We will risk 1% of our capital, and we will move our stop into break even in the first Fibonacci Extension.
The main idea here is:
a) The price was inside an ascending channel, and we have a bearish breakout
b) After that first impulse, we are observing a pullback (retest of a broken area)
c) From a technical perspective, pullbacks are continuation structures.
d) Now we have a clear corrective structure, and we will trade below B with the target on the last Fibonacci Extension
e) We will risk 1% of our capital, and we will move our stop into break even in the first Fibonacci Extension.