A change of trend on smaller time frames suggest a turn/reversal for today. The price level is so we should take a look at the charts.

A nice pin bar/ shooting star below 50% fib retrace of last dip and below weekly central pivot suggest a reversal.

And smaller time frames 5m/15m shows a H&S formation and a change of trend supported with Fibonacci.

I'm already short and the targets are:

  • 1.3148 already hit
  • 1.3128 daily central pivot
  • 1.3078 previous low
  • 1.3055 50% retrace of last 4h/daily rise
  • 1.3033 121,4% extension on 4h chart and monthly support 1

For today I think that's enough. How to enter if you miss the right entry. Take the last swing down on smaller TF and put a fibo study on it. Wait for retrace and re-enter.

-- Pipomatic

Views: 156


You need to be a member of Forex Social Network to add comments!


Join us on Facebook Now!!!

Hi everyone

This website was closed June 2nd 2015.

Please, join us now at Facebook where you can keep sharing your thoughts about Forex with our community of traders:


OVER 2,500 READERS!!!!

© 2015   Created by FXStreet.

Badges  |  Report an Issue  |  Terms of Service


Live Video