An inside bar has formed on the one hour time frame indicating a pause in the recent downtrend. Volume is also decreasing further adding confluence that the price has paused. Both these factors can indicate price will move quickly as either a reversal or continuation of the downtrend. I am biased to both directions therefore placing trades in both directions. If one order is triggered I will leave the other order active in case a fakey breakout occurs and prices move the other direction.
Trade closed: target reached:
target reached, long trade closed. Short order has been cancelled.