Short after the Sharp Rejection + Retail Traders Flip Long
1. Rejection of long term downtrend line
2. Retail traders flip long (contrarian signal for losses)
3. About to lose short term support line
.72 is the first target. Sell a break below the red trend line or wait for a bounce and sell aggressively. Give yourself 50 pips risk we're looking at a minimum of 300 pips on this play.
2. Retail traders flip long (contrarian signal for losses)
3. About to lose short term support line
.72 is the first target. Sell a break below the red trend line or wait for a bounce and sell aggressively. Give yourself 50 pips risk we're looking at a minimum of 300 pips on this play.
Trade active
Short triggered at .7525 stop @ .7575 take profit @ .72
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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.
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.