Ok here is a simple representation of what I think is going to happen the next few hours
first price had hit the diagonal resistance and bounced right off of it
there is divergence on the RSI and price is at major support if it breaks I expect it to go down to 1.3900 so target set there.
Stops should be above 1.4000 because brice can bounce around before it goes lower so it only gives us 1.1 risk to reward
I am getting is small maybe add postions later (2% instead of 5)
notice that price has difficulties to head lower because of underlying strenght
notice that bear trends that are so steaply may not last long
first price had hit the diagonal resistance and bounced right off of it
there is divergence on the RSI and price is at major support if it breaks I expect it to go down to 1.3900 so target set there.
Stops should be above 1.4000 because brice can bounce around before it goes lower so it only gives us 1.1 risk to reward
I am getting is small maybe add postions later (2% instead of 5)
notice that price has difficulties to head lower because of underlying strenght
notice that bear trends that are so steaply may not last long
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