AN
Observe how price has been pushing up with a number of pullbacks.
Do you really think its ideal to short from 7/8 under current conditions?
There is some minor rejection at the 7/8 level but not enough to convince me to short it.
I would want to see a big rotation type candle similar to a bearish engulfing candle before I got interested.
I would not even be interested unless some serious bear strength enters the chart then I'll reassess.
To top it off the PA is currently at a snails pace which is another reason to avoid it.
If you really wanted to short this pair then place your stop about 5 pips above the recent high and a TP no deeper than the next level down @ 6/8.
Very often price makes a move back to test the DO line but no guarantees this will occur.
ps. increased bearish intent and stronger momentum to the downside then reassess forsure.
Masterrmind............
Observe how price has been pushing up with a number of pullbacks.
Do you really think its ideal to short from 7/8 under current conditions?
There is some minor rejection at the 7/8 level but not enough to convince me to short it.
I would want to see a big rotation type candle similar to a bearish engulfing candle before I got interested.
I would not even be interested unless some serious bear strength enters the chart then I'll reassess.
To top it off the PA is currently at a snails pace which is another reason to avoid it.
If you really wanted to short this pair then place your stop about 5 pips above the recent high and a TP no deeper than the next level down @ 6/8.
Very often price makes a move back to test the DO line but no guarantees this will occur.
ps. increased bearish intent and stronger momentum to the downside then reassess forsure.
Masterrmind............
Master your Mind then Master your Trades
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