This pair formed a lower high last week before finally crashing through the kumo and closing below it.
We are on the verge of a bearish kumo twist, and chikou span is below price with plenty of room down below.
I am watching for a break of this recent price structure at the bearish breakout we had to enter my short position.
We're at an interesting place here considering how long of a bullish run this pair has been on.
It's left plenty of room to the downside should the dollar decide to fight back a little.
I've drawn this out as a very long term trade with multiple partial take profit levels to aim for along the way.
If we fail to break below price structure support or if our bearish confirmations change, this setup may become invalidated.
We are on the verge of a bearish kumo twist, and chikou span is below price with plenty of room down below.
I am watching for a break of this recent price structure at the bearish breakout we had to enter my short position.
We're at an interesting place here considering how long of a bullish run this pair has been on.
It's left plenty of room to the downside should the dollar decide to fight back a little.
I've drawn this out as a very long term trade with multiple partial take profit levels to aim for along the way.
If we fail to break below price structure support or if our bearish confirmations change, this setup may become invalidated.