The chart shows clearly what I am looking at here. We have the impulse wave down breaking below the support zone and now I am looking for a sell opportunity in this pair. I will then aim to ride the wave down to the longer term trend line below!
I am looking for a pullback up to the support/resistance area before awaiting confirmation on a sell trade. If price...
This pair is in an overall downtrend and we may see price re-test the zone i have marked with the grey line to potentially break bearish and make new lows.
Entry - grey line
Stop loss - red line
Take profit - green line
Risk exposure - 1%