With a little tip off from DecresFX this set up looks pretty attractive. I may get in with a Buy Stop at my 50% fib. May play it saver with TP at 23.6% rather than up at the top.
Preemptive entry before did not pay off with Yellen jabber. I still think the position is valid. I'm setting up a Sell Stop at the indicated levels.
Recovery from FOMC shenanigans. If RSI turns back below 70 and price gets under open of current 4H bar. I will short to what could be called a neckline on a large scale r:r 5.33
Watch for break of minor trend line within larger channel for a short down to fib 23.6%
Watch for a break of the trendline support after these two rejections of 23.6% fib resistance.
Entered short before my previous Entry target. SL since moved down to 1.48644 to protect current profits from a bounce up.
Yellen Speech today might make it (EURO) a bit fickle. Against all currencies.
Quick trade idea. Will be a small size lot if the sell stop hits.
Two trendline resistances and fib 61.8% resistance and 4HRSI approaching 70+. Watch for reversal and sharp downturn.