-Very good opportunity to enter a short position on the retest of the supply zone which is in confluence with the 23.6% fib level. -Another confluence is the EMA's which show bearish signals as price is below both EMA's. -Top down analysis from the weekly and daily show bearish signals which gives me confidence the bears are in control of this pair.
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If I placed a market execution trade on this pair I would have got stopped out so it is very important to wait for a strong bearish confirmation before placing a trade.