When everyone else seems to be going long, I'm having secind thoughts. This pair might be on it's way out of an ascending wedge. Having that the fundamentals on this pair is bearish, i'm looking at this great shorting opportunity to somewhere around 1.47 for a double bottom.
The 1,56 Area seems to be a strong Resistance, so short makes sense in my View.
IvanLabrie
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I see what you mean, maybe there's one last push up before we can short it though.
Your stop loss is reasonable, if you have traded these wedge formations before, go for it.
Good luck!
Gweedy
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thanks bud, might be. If my stop loss gets hit i'll consider a long instead.