Another short opportunity, very similar set up to our NZDJPY trade, same overall down trend on the higher TF's and a small corrective up trend on the 4hr and daily TF's, after breaking the support phase line of the smaller up trend we had another CBO style entry with a solid retest and rejection of the 50 EMA, markets now continuing to reject and fall to the downside. More than likely being gravitated towards the lower support level on higher time frames where there is most likely a high level of limit orders and liquidity waiting to be snatched up by the market.
Comment:
Stop has been moved to entry for a risk free trade.
Comment:
Stoped moved to lock in 30 pips / 0.75%.
Comment:
Pull back on the 4hr, possibly to retest the 4hr 50 EMA before a continuation to the downside.