Euro / British PoundShort
Short
Hey,
The Day chart is bearish which indicates all the major players are keeping this pair low. Drawn is a day level (green line) that is a significant level that has also been recently respected on the 1 hour chart with lots of wicks/shadows reacting to this level. Currently on the 1 hour chart we have a small bodied bullish candle with a nice wick also rejecting this level (wait for the candle close to confirm that the candle doesn't break the level and there is still a healthy wick). If this confirms then Im happy to scalp a few pips here, the ATR is at 7.3 and not much movement. i'll go for 7 pips take profit and Stop loss the trade at 4 or 5 pips.
The Day chart is bearish which indicates all the major players are keeping this pair low. Drawn is a day level (green line) that is a significant level that has also been recently respected on the 1 hour chart with lots of wicks/shadows reacting to this level. Currently on the 1 hour chart we have a small bodied bullish candle with a nice wick also rejecting this level (wait for the candle close to confirm that the candle doesn't break the level and there is still a healthy wick). If this confirms then Im happy to scalp a few pips here, the ATR is at 7.3 and not much movement. i'll go for 7 pips take profit and Stop loss the trade at 4 or 5 pips.
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