Disliked{quote} it's a fair point you make about the current 'mood music' and price's inability (thus far at least) to break northwards of that major desc t/line to say nothing of the prev sw hi's to 3482/3514, but the technical position 1hr - weekly is still bullish and it points to a break upside of at least that major descending t/line....whether this will actually happen no-one knows, and whether the market as a whole are reading that mood music the same as you at this moment -sufficient to start a significant sell-off also remains to be seen.Ignored
Us as traders, trying to position into large moves, with tight and relatively small stop losses, the Sell side (currently) seems like the far safer trade to be siding with... as it stands from the PA this week, a SL at 1.3420 will be sufficient for what could turn out to be a monster move to the downside.
And as traders, anyone waiting for it to fall through 1.315 before positioning is taking a far riskier stance on entry than where we are today.
None of us know for sure which way its going to go but... Risk reward from here is surely on the sell side.
Que Sera
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