eurusd short position

Jul 12, 2020

Price rejected daily resistance (green horizontal line) once again with creating a possible head and shoulders pattern. It already rejected the zone between 0.5-0.618 fibonacci levels so it might continue going down from here. So what i will do is i will look for price action in lower timeframes to see a short entry. Stoploss will be different. Target is -0.75 fibonacci level matching with the last daily lows.