Tough market to trade this week, the level of manipulation is out of this world. Im very interested in trading this pair, what I would like to see is a confirmed close below the structure marked to be able to sell it. If we see price shoot to the upside, I will leave this trade untouched.
COT Data - 64% Lonf
Very simple market structure here. The daily time frame shows the market in a bearish trend. With an impluse, a correction to the upside then continuation to the downside.
There has been 3 days of multiple rejections in the descending channel and has now created a bearish shooting star, suggesting a strong move towards the downside.
Watch the comments as I will...