On the technical side, we can see the contour of a on the hourly timeframe that completes at the mentioned structure level. Price comfortably passed the B point this morning and progressed 55% towards the potential reversal zone (PRZ). When defining the PRZ for a , we look at the projection of three levels. I: the of XA, II: an extended AB = CD pattern (in this case 1618 AB = CD) and III: a BC expansion (in this case 2618 BC ). This defines a clear and tight zone, about 20 pips wide, represented by the orange lines in the chart. The key structure level at 135.14 lies smack in the middle of this zone, increasing the odds on a reversal.
Should the price climb enough to test the PRZ, stabilise and reverse convincingly, I would enter short. SL goes 10 pips behind X. Normally, I look for TP1 = of AD and TP2 = of AD, but in this instance I have placed them both a little higher due to levels.
There are 101 pips to be made (if this pair follows the script) and the trade has a reward – risk ratio of 3.1!
UPDATE: The pattern did not complete, so I did not enter any trade. No problem, nothing was risked and nothing was lost. On to the next trade!
Exchanging only trading ideas after you've entered the trade would take away the possibility for other people to enter the trade, on the other hand you could have ideas that do not work out. Hope this explains why it was published ? :)