Short : 3 options
Here is an interesting chart. I put a few options here.
I usually don't trade figures like head and shoulders but there is something along those lines. It is also right on a pivot so there is a possibility of a reversal there.
However, I am more interested in Entry 1 and 2.
If the first one and the second ones are breached, I think entry 2 shows an area where price might want to reverse. Keep in mind that for those trading intra day and happy with a quick 20-30 pips, the 3 zones of with a yellow circle could generate a quick short.
I usually don't trade figures like head and shoulders but there is something along those lines. It is also right on a pivot so there is a possibility of a reversal there.
However, I am more interested in Entry 1 and 2.
If the first one and the second ones are breached, I think entry 2 shows an area where price might want to reverse. Keep in mind that for those trading intra day and happy with a quick 20-30 pips, the 3 zones of with a yellow circle could generate a quick short.
Note
Nice little reaction of about 36 pips from my first short entry area. I don't trade intra-day but for someone trading heavy it is probably a cool trade. I am looking to get in around the top two circles.Note
I was pretty sure price would only react at the first circle then push up. For the record i did take a small entry at around 0.86.
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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.