By Wednesday NY Open: Price to have reached 1.5350
A run to 1.5350 if Price Action reveals confidence.
The Sunday open should not show signs of breaking and holding below Friday's Low.
We should break the highs of downward accumulation with confidence, not just touches and retraces (that could signify Stop Hunting and Scenario 2 downside).
This is because we have buyers now underwater and previous order blocks now needing to be closed.
We do have a higher order block of 1.5510 - we "could" see price extend to, but after price reaches 1.5350 we should remain on the sidelines for further indication of new order blocks.
If Sunday open shows closes and intention of downside below Friday's low we can expect expansion of the downside to be capped at around the 1.50s
entry for me is @ 1.52046 SL @ 1.51342 trailing the stop till I get stopped out of the trade to catch as many pips as possible
OR I can switch to 1Hr time frame for a better entry with lower SL