On the H4, price has reflected off the 1st Support at 1280.00 where the 138.2% Fibonacci extension line is. Price could possible head back up to the 1st resistance for retracement and then head lower back down towards the 2nd support area.
Trading Recommendation
Entry: 1420.74
Reason for Entry:
Retracement sell entry at the previous swing low and 100% Fibonacci extension line area
Take Profit: 1280.00
Reason for Take Profit:
138.2% Fibonacci extension line and 1st support line
Stop Loss: 1475.77
Reason for Stop Loss
Previous swing high
