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I have been looking for this setup from past one month. Frankly i am very disappointed with Friday's continuation .. Now with iVAR reading of .485 indicates that chances of reversal have been reduced a lot.
As per IVAR a reading around .5 is a random chance, <.4 a good chance for reversal and >.6 signifies continuation.
I am also long from 1.2230 and will be adding to position but now my faith in this trade have lost... Especially after we are expecting a gap open down 50 pips and break of 1.2135-50
what is your take on SL
Regards and Best of luck
There are no right and wrong decisions......Only timely decisions