At this point still neutral on the market, waiting for more price action to unfold.
So I currently placed my sell stop 25 pips below old lows so that I don’t get tagged in if it is just a run below old lows of 1.38734
My overall sentiment on the daily is bearish as price retraces from the 68% retracement level.
If price break below the 1.38484 level then it’s...
Pair has been range bound
Price is at top of range
Several bullish wicks have tried to breakout long and failed
1st Sell Stop in trade @ 1.2895
2nd Sell Stop @ 1.2869
Take Profit @ 1.2835
SL @ 1.2933
You may want to wait for this to happen before entering your sell stops
Price may retest range top - watch for a candle close above trend line and fail again
