I am placing this sell limit order because I believe this pair will want to respect the descending channel. Now that we have broken the small ascending channel and have come back up to re-test the structure and the 0.618 Fib, I believe we will see a small downtrend emerge. The sell limit has been placed between to 0.618-0.786 Fib in an attempt to get a wick entry for maximum returns, if we don’t get this then we will simply leave the pair and focus on another. Another confluence we can work off of here is the 50 EMA on the 4-hour time frame, It has been broken and we are now coming up to re-test it. Fingers crossed we get the entry and results we are after, the confluences are there so let's hope for the best.
