After seeing an explosive 1% move downwards after testing the upside of the rising wedge, along with ca. 18-month highs we're looking for a short to capitalize on a definitive reversal.
Although this reversal cannot be confirmed for sure yet, getting in early could prove very profitable.
SL set 10 pips above the wick of a few hours back.
TP set at the 162% extension with respect to the first move from 0.97949 to 0.96485.
Note also that this lines up nicely with the strong support of a few weeks back.
Although this reversal cannot be confirmed for sure yet, getting in early could prove very profitable.
SL set 10 pips above the wick of a few hours back.
TP set at the 162% extension with respect to the first move from 0.97949 to 0.96485.
Note also that this lines up nicely with the strong support of a few weeks back.