In the previous post last week, we said that we are after buys that will come immediately after corrections.
There were two false breaks on the H1 chart. We already see H4 divergence and I expect a short term bearish correction.
There are two possible trading scenarios now:
* Short Term Sells
* Longer Term Buys
Final target for the sell positions will be around the 1.09 level. Of course watch out for bullish divergences. Basically once you start getting Forex Triple B or sRs Trend Rider sell alerts, you can try shorts.
Next step would be to switch for buys. Once we start getting buy signals, at the levels where we have confirmations for the end of the correction, we will switch the trading direction and long the pair.
Let's first of all focus on the sells now, and when the time comes, I will update you.
There were two false breaks on the H1 chart. We already see H4 divergence and I expect a short term bearish correction.
There are two possible trading scenarios now:
* Short Term Sells
* Longer Term Buys
Final target for the sell positions will be around the 1.09 level. Of course watch out for bullish divergences. Basically once you start getting Forex Triple B or sRs Trend Rider sell alerts, you can try shorts.
Next step would be to switch for buys. Once we start getting buy signals, at the levels where we have confirmations for the end of the correction, we will switch the trading direction and long the pair.
Let's first of all focus on the sells now, and when the time comes, I will update you.