Lower highs on RSI, with double top formation around a resistance area. TP @ resistance level below expected to drop and touch. SL above recent double top wicks, incase it breaks resistance above.
Comment:
USD CPI MoM below forecast. This has aided this trade right now. But we can ignore this and just pretend it is perfect TA, and not my benevolence of ignoring FA....
Comment:
Deliberation to move SL downwards now slightly. Will wait for trade to hopefully move closer to the 50 EMA before doing so.
Comment:
Expecting stagnation around 109.400, still unsure on movement of the SL yet.
Comment:
SL Moved to just under 109.8. Sitting on 50 EMA on 4hr, expecting a slight bounce here. So moved SL to reduce downside risk, still hoping it plays out as expected.
Trade closed manually:
Closed out at 109.320 before the weekend.