Price has broken the rising trend line
& structural support @ 1.55XX level. The pair looks super bearish
, any pull back towards the @ 1.55XX handle need to be sold off. The plan for entry is retest of level # 1.5500 (ROUND NO.) with stops 50 pips above it. It should be sufficient if the price need to be resisted at this level. If price breaks above it, its safe to get out with -50 pips & look for new short entries at around the retest of trend line
. This snap back trades are good low DD
trades, hence again 50 pips above the trend line
is enough to test whether the trade is at right direction or not.