Currently in a short on indication of reversal starting from 245. I could have gotten a better entry at 247.5~ since that was a huge indicator.
Now, the selling is strong on this one and is taking out buyers who bought at the 245 level. As well, the 245 level was attempted to be defended by some bulls, creating tension (which causes even harder of a...
I am ST bullish on this pair.
Key resistance level at 1478
A break above trips a lot of stops
If it breaks above, look for probably at least $250
Look for pre-breakout characteristics including:
-Weaker sells from the area of resistance
-Stronger buying waves
-Tension (smaller candles)
-Attacks on 1478 to attract more bears into the market with stops above