using the ichimoku strategy we can see that price entered the cloud and is leaning bearish we got a dump last friday , another one yesterday, we retested the same levels 1.23 and got rejected again and again. My plan is to short 2 lots from 1.2270 and 1.2280 what i did yesterday. As i'm publishing now after the fact the optimum entry is the daily pivot at 1.22665.
You can put the stoploss at 20pips away. Meaning you lose 400 usd if stopped out and win around 1500 if the plan works out.
manage it properly don't short late when you see price around 1.22450 as the market will chop hard to shakeoof late shroters.
Good trading and happy new year