For those who entered a sell position at around 1.244000 and exited at around 1.241000 must have realized a profit of approx. 30 pips which is fair enough profit. But for those who are after a larger catch and stayed on the market like myself, as I have forewarned about price breaking above 1.24500, it triggered the old price channel between 1.23500~60 and 1.25100~20 which the price action is presently in. I'll assume that the channel resistance at 1.25100 will hold firmly, thus I also assume that around this time, the price will breach the channel support (green dotted line) at 1.23600.
My take on this is very BEARISH. Thanks for bearing with me and wishing to a fruitful outcome for all of us.
My take on this is very BEARISH. Thanks for bearing with me and wishing to a fruitful outcome for all of us.