Bearish Engulfing on the daily and we also managed to close below the daily level after taking out the top end of the range. I am quite convinced that we will continue lower. Looking to short the last naked bit of previous support.
Target is an old gap which hasn't filled yet
Looking for a bear-trap if we can break beneath Friday's ID into former resistance. Stop is pretty wide, but the potential reward makes up for it. Looking for a break above last week's high.
However, I will be very cautious if we get trouble closing above 1170 and might take an early exit if warning signs occur.
We have a naked three touch level below market which makes ground for a mean reversion play for NFP later today. If market hits the level today it would be past its ATR, thus making it a higher probability play. Target = FTA