Price has broken below the upwards trends line and seems there is a strong signal for a potential short lining up on this pair.
- As you can see from the annotated chart I will be waiting for price to retrace to the old trend line and bounce back down before I enter a short position
- Patience is key here as you dont want to get caught in a fakeout
- The next key S/R levels moving down are 1.11717 and 1.11348 - my exit area would be around 1.11348 but that is pending it breaks through 1.11717
Let me know what you guys thinks, a really easy simple setup that just takes patience and caution to maximise our profits!