Interesting move on this pair : yesterday we broke and close below a daily level of support (both on daily timeframe and smaller timeframe) so having a bearish bias on this pair, eyeing a retest of the next level of support in the 0,75 area.
Tools available to me in my trading toolbox would be a pullback to the broken level of structure and a Double Top which would allow me to get involved on the short side, as a trend continuation trade, for a potentialy great risk to reward ratio (T1 at retest of NSL and trailing stop to T2 all the way down at next level of support).
However if price goes straight down, I'll be looking instead at a double bottom at the next level of support.
Have a great week in the markets!
Tools available to me in my trading toolbox would be a pullback to the broken level of structure and a Double Top which would allow me to get involved on the short side, as a trend continuation trade, for a potentialy great risk to reward ratio (T1 at retest of NSL and trailing stop to T2 all the way down at next level of support).
However if price goes straight down, I'll be looking instead at a double bottom at the next level of support.
Have a great week in the markets!
