A consolidation pattern , pennet has formed. The bet is for a continuation to go up or a reversal to go down. It looks like a top of the H4 upwave. Hence a bet of reversal could be the scenario to play out. A counter trend short idea is developed with a potential less than 45pips.
Note
Need to trade with smaller size than usual becos it is a counter trend trade.Trade active
short at 0.7544. SL 0.7575 Risk 31 pipsTrade closed: target reached
Loss 31pips. It looks like breaking towards the up side.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.