3 key bearish indicators :
-Overbought according to the RSI hovering around 70.
- Break below ascending trendline
-Stalling at key resistance level.
Even though the RR is very high and might seem unrealistic, our lot size is fairly large and we will hedge our way out throughout the trade for better risk management and capital preservation.
Long term trade.
Following a rally of the pair up until the 15th of February '18, peaking at around 1.256, the overall sentiment has been fairly bearish whilst dropping all the way down to about 1.12, forming a potential head and shoulders pattern as seen in the chart. A bear trap can also be spotted falling outside both the head and the shoulders placement...