Short after the Sharp Rejection + Retail Traders Flip Long
1. Rejection of long term downtrend line
2. Retail traders flip long (contrarian signal for losses)
3. About to lose short term support line
.72 is the first target. Sell a break below the red trend line or wait for a bounce and sell aggressively. Give yourself 50 pips risk we're looking at a minimum of 300 pips on this play.
2. Retail traders flip long (contrarian signal for losses)
3. About to lose short term support line
.72 is the first target. Sell a break below the red trend line or wait for a bounce and sell aggressively. Give yourself 50 pips risk we're looking at a minimum of 300 pips on this play.
Trade active:
Short triggered at .7525 stop @ .7575 take profit @ .72