In spite of the above, however, we are not going to be looking to short just now as we have our beady little eye on the 4hr Quasimodo sitting just above current price at 0.9835. The reason for why we’re not looking to short at this time simply comes from there still being room for this market to appreciate further within the aforementioned daily . Therefore, if price does manage to touch gloves with 0.9835 today, we’d confidently enter short at market with our stop above the daily supply area at 0.9865 – a small stop loss really, when you consider the location of price on the higher timeframe picture.
Levels to watch/ live orders:
• Buys: Flat (Stop loss: N/A).
• Sells: 0.9835 (Stop loss: 0.9865).