My idea for this ranging trade is to wait for the price to reject at resistance level. I'm looking to short this pair due to have a few confirmation in my analysis such as Fakeout, SR Flip, Compression and Bearish Engulfing. However, this trade is quite risky entry since the trend do not have any bullish or bearish momentum. I keep my drawdown low at 30 pips stop loss from my entry point.
Trade closed: stop reached:
Failed setup and hit SL. Price move in strong bullish momentum.