We have published an idea/setup for British Pound that is in the distribution phase last week.
I am still LTF bearish and I will look for shorts during this week. I have outlined for your range where you should watch possible shorts.
- My outline for this week would be loading shots up to 1.30803, if possible, still think the price can rally into our QE (equilibrium) and then sell-off. I would target 1.29200 and lower prices.
- There can be also the situation, that our range low will be immediately broken if so, I will short from there (any movement uploading up into my shorts) and targeting 1.29200 level.
My invalidation of this thesis would be if the price would start closing above 1.31. Then I will change my bearish bias into bullish bias and will flip into long.
I am still LTF bearish and I will look for shorts during this week. I have outlined for your range where you should watch possible shorts.
- My outline for this week would be loading shots up to 1.30803, if possible, still think the price can rally into our QE (equilibrium) and then sell-off. I would target 1.29200 and lower prices.
- There can be also the situation, that our range low will be immediately broken if so, I will short from there (any movement uploading up into my shorts) and targeting 1.29200 level.
My invalidation of this thesis would be if the price would start closing above 1.31. Then I will change my bearish bias into bullish bias and will flip into long.
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