Shorting opportunity with low risk, possible RR of 1:4 or higher depending on your own analysis and projection of price.
60 pip stop loss and 250 pip target minimum. Use your own trailing stop plan if this trade takes off.
Momentum and daily structure is behind this short. Price could swing up and take out the stop loss in order to grab sellers but
Price broke high out of a long and narrow trend down, then created a base where we see the line so another push up is possible. There is a lot of space to fill if it goes that way. This long is currently set at 3:1 reward to risk.
Current weekly bar has a fake break out forming a clean long-term
double, then reverses and since it closed last week as a
blue bar, which is a down bar it's also a very strong reversal
candle off an important area of resistance, also working off of
the .618 which price hasn't been able to break in a long time.
So, just using 1% of of capital risk on a 2000 size...