Looking at EU currently. We've been seeing rejections of 1.13600. Looks like liquidity is just being gathered around this area for both bulls and bears. I'm expecting price to make one more push up to 1.13720 roughly, and then finally make the move down. I've been patiently waiting for these highs to be retested once more and then the drop to ensue. Once price makes its move, i'll be waiting for a break and retest of 1.12900 to ensure that we won't be coming back to our current high. Looking for about 230 pips to the downside for a very nice risk/reward trade!
Trade closed: stop reached:
Stop hunt went a little farther than expected! But only 4% risk so it's all good. Proper risk is key when things like this happen in the market.