We have had a parabolic month shown clearly on the weekly with 2 very strong blue candles. We broke through the resistance zone of 1.3500 area and have not tested it since. I was therefore looking for a short play to test that zone and Friday daily close seems to have given a good signal. The daily closed with a long wick which when i go the H4 (entry timeframe) shows that its just pullback and we should expect further decline. So i am playing change of structure on H4 from bullish to bearish.
Entry: 2 small positions @ 1.43360
SL 1: 1.4569
SL2: 1.4635
TP1: 1.3920 (RR-2.09)
TP2: 1.5320 (RR-3)
Manage your position sizes
Entry: 2 small positions @ 1.43360
SL 1: 1.4569
SL2: 1.4635
TP1: 1.3920 (RR-2.09)
TP2: 1.5320 (RR-3)
Manage your position sizes