I am now short on this pair. I have already entered but here is another good entry point.
Place stops above channel.
Red arrows do not predict exact price or time. Only direction.
I've readjusted my channel on this pair. It's slightly off. Anyone using this idea for their own trades should also make sure they adjust their channel slightly. But the general idea is still valid.
Trade closed: stop reached:
Hit my SL. Idea is invalidated. Opened a long upon break of dotted line in case we continue in last weeks channel that we just re-entered. Will set stop to BE and see what happens.
Remember kids. Always have a plan' B
(Opening new shorts under white dotted line, too.
Crazy pair and will only act crazier on friday. Maybe best to wait until monday for more consistent action.