There might be a fake out to the upside at the top of the , however price should fall as indicated on the above chart.
UPDATE: Changed my Long position TP to 24. Target price roughly 1.1275
UPDATE #2: Long position hit TP for +24 pips.
Will be considering a short shortly. :)
UPDATE #3: Entered short TP 40, SL 40. Price might fake out northside (around 15-20 pips) before falling. On reflection I should have waited for the northside fakeout to occur first.
UPDATE #4: Just exited for -5.9 pips. Will wait for fakeout and re-enter.
My gut says there's one more thrust up before we see my planned short. So if that happens I'll re-enter at the top. If not, I'll pass on this trade.
Looks like I missed this one. Should have stuck with my previous trade.
UPDATE #5: Real messy, anyway I have entered short at the top of this fakeout at 1.1302. TP 70 pips. SL 25 pips.
Stopped out for -25 pips. Turned into a , with the second half being an . It was the actual move that I thought was happening tomorrow. Not pleased at all that I missed this and even more not pleased that I didn't spot this earlier.