If anyone likes to trade off of the 200 sma this is a good trade to take, this is the first time price has closed below the 200 sma for a long time. We can watch the upcoming week and see if price retests and bounces down, or if price retests and shoots up through it for a bull run. Either way this is definitely something I will be watching heavily this upcoming week.
If it shoots down like expected I think it will go down to the last low of about 1.0630 to test.
If it shoots down like expected I think it will go down to the last low of about 1.0630 to test.
Trade active:
Guys if you're not already in this trade, if it breaks past its low of 1.1057 it's going to collapse.