I just noticed this one.
I won't take it as I am going to be and I am already in a couple of shorts along the same line.
You do your own diligence but this one looks like it is bleeding. It is under the pivot.
I had some success on similar set-ups even if the trade had left the "station."
Just my two cents. I hope you make a lil' more than 2 cents if you take it however.
It could do a bit of retrace up to the green pivot but as long as it is still under it is looking weak.
There is about 172 pips before it hits the diagonal support and even more gravy if it goes to the horizontal.
Actually, I convinced myself to take a small position ;-)
I won't take it as I am going to be and I am already in a couple of shorts along the same line.
You do your own diligence but this one looks like it is bleeding. It is under the pivot.
I had some success on similar set-ups even if the trade had left the "station."
Just my two cents. I hope you make a lil' more than 2 cents if you take it however.
It could do a bit of retrace up to the green pivot but as long as it is still under it is looking weak.
There is about 172 pips before it hits the diagonal support and even more gravy if it goes to the horizontal.
Actually, I convinced myself to take a small position ;-)
Comment:
From another perspective, a couple of target points to the short side.
