You can clearly see how price has reacted previously when entering this zone... bounced! we can see price is in this area again and that price has also failed to break a daily resistance the previous 2 days, so we are looking for downside movement from this area. This is a strong level so we will keep a very tight SL to avoid loosing much at all if price does shoot up... Always use protection whilst F#CKING the markets ;p
Again this is such a simple setup.... come and have a chat with us if you like our simple approach to trading to see how we can help you improve and become a trading NINJA ;p