GOLD/EUR Bearish reversal

١٢ مايو ٢٠٢٠

The market was in a previous uptrend in recent weeks, but more recently, the market has been slowing down in it's bullish momentum. It is observed that after the recent swing High and swing Low, (which broke uptrend structure) the market went in an area of Lower High where around and important fib level in which we would seek to sell. I entered at the close of the bearish engulfing pattern and placed stop above it. My Take profit is at an area of likely support where the fib extension is.