This is a SHORT set up before a cypher form. Thought behind this trade is:
1. Its at a strong resistant level on weekly chart
2. USD denominate pairs also showing strong dollar
3. Double top on daily chart
4. Risk reward is very good
5. Possible to go even lower as if it follow weekly chart, it will drop even lower if the support break.
SHORT @ 1.6741
SL: 1.6850
TG: 1.6062
good luck!
1. Its at a strong resistant level on weekly chart
2. USD denominate pairs also showing strong dollar
3. Double top on daily chart
4. Risk reward is very good
5. Possible to go even lower as if it follow weekly chart, it will drop even lower if the support break.
SHORT @ 1.6741
SL: 1.6850
TG: 1.6062
good luck!