Upon re-examination of the pair I've decided to wait for the pair to reach the intersection of channel resistance and trend support (highlighted in purple box).
I expect that at this point if trend support is broken the pair will head down to at least channel support if not further.
Comment
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Here it comes. I'll post an updated idea with my position.
Comments
tokyotiger
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Very good chart. I'm also watching this trade. Shorting above .770 might be a good option.
forexmech
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Thanks Kyle
AduvukaGwehona
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cool....watching closely too
tkarthi1
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great chart... started reversal bears will lead the show
hanikad
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It is began landing ?
hanikad
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Do you think that in the down phase now, and to what extent
QuileHills
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I'm waiting for a break of my green trend support to confirm. First TP would be red channel support.
hanikad
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Where are the trend now, up or down
QuileHills
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I have no reason to believe yet that it is not bullish.
forexmech
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Smaller time frames showing rejection from the upper line.