Considering entry anytime now, following the shorter timeframes and looking for a potential fakeout of the descending channel and then we could see a triple top formation followed by a massive drop in this pair.
- Profit take at around 137.15 so we are looking at about 4500 pip drop to hit this - I think it'll drop further but we could see some resistance and hesitation around that line.
- Stop loss set at just over 144 in case we see a clear break higher of the previous all time high of 143.75 (Unlikely in my opinion).
Good luck and happy trading!
- Profit take at around 137.15 so we are looking at about 4500 pip drop to hit this - I think it'll drop further but we could see some resistance and hesitation around that line.
- Stop loss set at just over 144 in case we see a clear break higher of the previous all time high of 143.75 (Unlikely in my opinion).
Good luck and happy trading!