Everything about this pair looks short. Wait for the break of the trend line and entry set up before opening any trade as this could still push a little higher. There is no long trade set up so don't be trying to trade it long. Be patient the short trade is coming soon.
I'll update my ideas as they develop First rule of trading - Protect you capital
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Always wait for an entry set up before risking your money.
This is not investment advice - it is purely for educational and discussion purposes. Your Ideas, comments and questions welcome
Good luck Steve Nixon
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Keep an eye on this - it could be the break out we're expecting. It needs to push on down some more before I'll start looking for an entry set up.
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Yesterday's breakout retraced back into the structure. This is why we wait for confirmation before opening a position Rule no. 1 protect your capital
@Mokhobo, We'll not know until we get an entry set up. First wait to make sure it doesn't retrace back up then we'll see what the correction looks like - from there we can decide on Stops and Targets.
If I see a set up I'll update the chart Hope this helps