Patience is one of the key traits in trading. Last week we did not see much action, the price is ranging in a tight movement 20.4 points for a whole week.
This week we are still waiting for a confirmation to short the market: (1) Price level at $1,390 is being respected and currently creating a "fake out" line. (2) My reversal zone remains at $1,400 (for now) (3) The sign of going down will be confirmed when $1,370 is broken.
Overall, my view remain bearish with the following trade plan: Sell Pending Order at $1,400 Stop Loss at $1,410 Take Profit at $1,322 RRR = 7.8R
I will monitor on daily basis too, shoot me a question if you need any clarifications or exchange ideas.
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