It is an indication to book profits actually and not a signal to go short.
Intraday only.
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Disliked{quote} You're kidding, right? Its right on a decent resistance level from 2008 right now.Ignored
Disliked{quote} I've mentioned that this particular setup is in formation (technical structure cup and handle) Given that the formation is now in play... aggressive traders can go long now or on any pull-backs to 1.7 area Conservatively you could trade the break of 1.703xxx Belts and braces with best R/R wait for the break and then test of 1.703 SL 1.699 absolute = pattern fail.... or risk / reward of your choice Target and close not hold or trail is 1.71060 no extension target as this is a sell zone for sure... This is a high probability setup if price...Ignored