From neutral to bearish (see previous idea/post link below) especially if we see a daily close as confirmation.
Measured target for this move shown in the chart.
This is a reversal trade and is a contrarian position against the overall preceding trend. I tend to view these setups as lower probability so I'm managing my risk here as best I can. Let's see what the market gives us.
This is not trading advice. Trade at your own risk.
Comment
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Always important to wait for confirmation. Breakout is a dud for now. Very confusing price action here means more sideways most likely.
Trade active
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Some strong bearish PA is pushing the price lower. Bears are trying to fulfill this breakout maybe. If successful, we could be seeing a move down to the 0.69 handle. Went short with a small position just in case. Again, overall, I think this is a low probability setup at this point (but with a good R/R). Not trading advice. Please DYOR.
Trade closed: stop reached
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Lost the small position here. Always wait for confirmation, kids!