This pair has been in consolidation within a Wyckoff Redistribution. The Upthrust After Distribution (UTAD) has occurred and the markdown of price may be in progress.
This idea is for a short as follows.
1. Enter - .8560
2. Stop - outside consolidation .8600
3. Target - the horizontal resistance 1 ( .8500) near term and longer term the next area of resistance at .8340
4. RR = Even to 4+
This idea is for a short as follows.
1. Enter - .8560
2. Stop - outside consolidation .8600
3. Target - the horizontal resistance 1 ( .8500) near term and longer term the next area of resistance at .8340
4. RR = Even to 4+
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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.