Directional Bias
London Bias: Bearish with price targeting keyH1/H4 levels at 2690 & 2684
Price Action
Price delivered an aggressive bullish continuation with negative retail sales yesterday. I do see this being the final expansion before a more sustained short term reversal that may continue into building permits data release tonight
I would enter at the current price and be prepared to enter at a pull back towards the 2712.50 level.
With Stop Loss above the Asia high, the potential return on this could be a 1:3 - 1:5
Setup invalidation
If price moves back above the high of Asia, this setup will be invalidated.
Trade active
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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.