Bullish sentiment weakening. short the break of bullish trend line. TP is safe and modest right next to recent lows. Risk/Reward reasonable
Multiple approaches: 1) Short the break. 2) OR wait for consolidation of the new resistance after the break (safe) 3) short when 0.77071 (before or after breakout - high risk)
Take Profit: 0.75605
Stop Loss: 0.77339
------------
Risk reward: 1.9
Multiple approaches: 1) Short the break. 2) OR wait for consolidation of the new resistance after the break (safe) 3) short when 0.77071 (before or after breakout - high risk)
Take Profit: 0.75605
Stop Loss: 0.77339
------------
Risk reward: 1.9
Note
Watch out for the larger trend line. If it gets rejected of that trend line it would be wise to collect profits.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.