Price is facing bearish pressure from the descending trendline and the first resistance level, in line with 61.8% fib retracement where we could see a drop to our support level where the horizontal swing low is. The Ichimoku cloud is also showing resistance to the price.
Trading Recommendation
Entry: 77.54
Reason for Entry:
61.8% fib retracement, descending trendline resistance
Take Profit: 76.96
Reason for Take Profit:
horizontal swing low
Stop Loss: 78.00
Reason for Stop Loss:
Horizontal swing high
