Get ready to sell, waiting for confirmation. Better zoom into lower time frame like 3m to wait for retracement, like HH HL to hit the market order.
1H just create Higher High and Higher Low, possible for BUY. Will enter at price 149.3. SL at 147.19
Trend continuation trade Seller show interest We are waiting 1 more confirmation/Buyer rejection before we going for SHORT.
Let's see if the price move down, fake down and hold above. Then we could enter a BUY for this pair.
A trading setup, I've place the sales order.
Major trend in going down. I won't go against the trend. Wait for retracement and SHORT and here come the retracement. At this minor retracement, I'm waiting for buyer to fade out. Now looks like buyer is exhausting. Pending order placed. Let's see,
CAD is relatively weak today, and JPY is very strong, we are looking to SHORT this pair, however buyer are still in the market. In order to SHORT, we will let the buyer to finish his part first.
LONG now at 1.05106, Stop Loss 1.03805 Profit taking at 1.06490 or 1.07606
Kiwi Dollar SHORT opportunity at 0.72500 Profit taking at 0.70830 or 0.69810 Happy Trading.