Price currently at the top of a resistance level & wedge pattern. Going off of technical analysis i'm seeing this pair dropping long term, so a nice opportunity to get involved. Will be putting SL to break even if i get a nice drop. If it pushes beyond the resistance level then I will close the trade manually for a small loss. Good luck :)
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Entered this trade after the engulfing candle which came straight after the double top. My stop loss is at break even & going to just ride the wave now & hopefully hit targets. First target will be 1.49515 & after that 1.48000
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Trade active:
Price consolidating now & forming a nice bearish flag. If it breaks out to the downside then it should hit the second target. If it breaks to the upside, then be prepared for a reversal.