I anticipate a down move is coming soon. The corrective pattern is about to end which is a combination correction. Sell setups are break even trade and i rather to move my stop loss as soon as possible. price bounced at daily (up) trend line, its near to weekly (down) trend line and weekly view of this pair has one more possible wave to go downside. lets see how is it going.
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another sell opportunity; after entering this trade and price movement to my direction I will move my stop to break even as soon as possible.
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possible scenarios on daily outlook:
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below is 2 different movements price can develops. for the green one I use an entry order and for blue one I will wait for the price to break above trendline and consolidate or some kind of correction, and i'll be a buyer at break of that correction; green is preferable.
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looks good for a BE trade
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waiting for long entry setup
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So the long trade i was waiting for had never triggered and price reversed to downside and break below the previous low. Now I'm looking for corrections to enter short.
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price is at lower channel and there is divergence, if it reverses to upside, I will wait to see which one is going to form.