I have taken a long position on this market as it has broken out from the downtrend and and there is good RSI Divergence on the lows. It is now making higher highs and higher lows so I have entered on the most recent pullback once the market looked set to continue.
My Stop is 10 pips below the recent low and my take profit is at the previous high.
I feel this market is set to continue it's downtrend as it approached significant resistance it began to turn down. This would be continuing to trade the trend and take the path of least resistance.
If the current candle closes red then I will be shorting the market with a stop 10 pips above the recent high.
My take profit will be towards the recent lows...