If price action breaks down through the weekly trend line we can start to prepare for a short position, entering around the 1.08032 ( Daily support ). Looking for it to continue down toward the 1.05202 point (Monthly/Weekly support).
Risk: A return to the current level of indecision : (1.08728) from the entry point (1.8032).
If price action bounces off the weekly trend line and breaks the daily trend line, we'll prepare to go long. Entering after a reversal confirmation ( break of 1.09810 point). Exiting around the 1.13735 point, or possibly the next level of resistance (1.14650) if movement is strong.
Risk: A return to the current level of indecision (1.08728) from the planned entry (1.09787)
Thoughts? Advice? Corrections?
Risk: A return to the current level of indecision : (1.08728) from the entry point (1.8032).
If price action bounces off the weekly trend line and breaks the daily trend line, we'll prepare to go long. Entering after a reversal confirmation ( break of 1.09810 point). Exiting around the 1.13735 point, or possibly the next level of resistance (1.14650) if movement is strong.
Risk: A return to the current level of indecision (1.08728) from the planned entry (1.09787)
Thoughts? Advice? Corrections?
