Price is trending down on this 12 hour time frame and higher time frames. Price has recently retraced to a previous support and longer term support/resistance. Price also retraced to the 50% Fibonacci level and is within the 8 and 21 moving average. Bearish pin bar has formed indicating sellers have regained control over the past 12 hours and may be ready to continue the downtrend. Sell order entry may be placed half way of the pin bar candle with the target at next loner term resistance area. Reward is 4:1.
Trade stängt manuellt
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Price appears to be stalling and so I am taking profit. I am closing the trade manually, reward is 2:1