Bear trend continuation?

Price seems to have slowed since Friday. We're around the 78.60 Fib level and seem to be rejecting the 200 MA. Even though that Fib level could act as support, most recent data shows it wasn't a strong support (May 20-21). A short entry could be possible. I'd like to wait and see how today closes to get more information on shorter time frames before setting up a position.

Entry: 1.5510
SL: 1.5560
TP1: 1.5410 (1:2 RR)
TP2: 1.5360 (1:3 RR)

Kommentera:

So far this is looking more and more like it could go down.

Because of the bullish strength from the past few days, maybe 1:3 RR would be asking too much so if I do get filled, I'll aim for a 1:2 RR instead.

Order avbruten:

Looks like I was wrong. Mea culpa.