When checking the weekly time frame you can notice the higher lows and equal (more or less) highs which provides the emerging ascending triangle pattern.
Price is now around the resistance area on the weekly time frame so I will be looking on H4 for a good entry to short this instrument (1000 pip potential) HOWEVER price is currently in an up trend when checking trend bias using the top down method - its not favorable to sell in an up trend so we would need a convincing quality setup to swing down with the bears to around the 1247 level...
More details to follow - please check details below for access to Forex Bootcamp and the online training portal.
Happy trading :)
Price is now around the resistance area on the weekly time frame so I will be looking on H4 for a good entry to short this instrument (1000 pip potential) HOWEVER price is currently in an up trend when checking trend bias using the top down method - its not favorable to sell in an up trend so we would need a convincing quality setup to swing down with the bears to around the 1247 level...
More details to follow - please check details below for access to Forex Bootcamp and the online training portal.
Happy trading :)