We will be looking to enter on the H4 chart with a breakout above the most recent down trend line (which also coincides more or less with the daily trend line) and the most recent high. Once that happens, wait for a pullback that will first of all confirm the breakout and second – it will improve the risk:reward on the trade. Only when go for a buy.
Stop Loss – below 1.5400.
Target 1 – 1.5900.
Target 2 – Until bearish divergence forms.
Stop Loss – below 1.5400.
Target 1 – 1.5900.
Target 2 – Until bearish divergence forms.
