This pair my friends is looking to have a perfect trap setup. if price touches the "resistance" (in quote because they are just the bulls taking profits), and immediatly rejects it, it will definitely become a trap. Wait for price to break and retest that level and enter short with strenght and close your position with 150pips very fast.
Just follow the arrows...
Last week I took 2 selling trades on the 7770 mark and closed the most recent yesterday after market opening (openings are marked with arows). Price broke out that level and is finding resistance at ~7960. This comes after a rally and short sellers are opening positions at the 7960 level.
In my opinion we are facing a continuation of a bull trap. Price will...
- Channel break after a perfect divergence;
- USDollar expecting to drop -> 0% interest rate + quantitive easing = more and cheaper cash flowing, which drops the price of a currency.
