Buyers have been losing momentum and sellers are now entering the market.
We also can see this is where price has had trouble breaking the 1.27400 level many times in the last week so we'll use this level as our decision making area. Being that we see price leaving this zone our directional bias becomes sells.
Now we are waiting for price to break below previous candle wicks(highlighted with green circle)
Entry: 1.27125
SL:1.27282
TP: 1.26705
We also can see this is where price has had trouble breaking the 1.27400 level many times in the last week so we'll use this level as our decision making area. Being that we see price leaving this zone our directional bias becomes sells.
Now we are waiting for price to break below previous candle wicks(highlighted with green circle)
Entry: 1.27125
SL:1.27282
TP: 1.26705