Date: 25 November, 2016
H4 Graph: Short Trend
The price is making a new third lower high and this is forming at Fibo level of 50% from the prevouis move short. The price remains below the horizontal resistance of 1,25110 after a retest and now the price is testing the diagonal resistance. We expect the price to remain witin the bearish price channel and continue short.
Price Action: Doji bar at horizontal and diagonal resistance – Possible signal for short.
Alternative scenario: if the price continue to go higher and passes over the high of the doji bar and horizontal resistance of 1,25100, this will cancel the bearish view.
DEM (14) – In the middle of the range
Price for Entry short around: 1,24550
Jr. Trader – S. Fuchedzhiev