Confluences for this entry:
- Double top formation indicating sell off
- Neckline has acted as both support and resistance in the past so can expect price to break + retest then meltdown into swing low zone
- Current candlestick has large upper wick indicating that the sellers have taken control of the market
1:4RR let's see how it develops.
GJ is rallying to the down side to possibly fill March's bearish wick. GJ in the next week or two could push bullish possibly to 130.750 area, to retrace down to create a new weekly lower wick. We could be expecting this in the next week or two, depending on how the pound and yen pair react to market movement. Potentially catching 1000pips to the downside to...