A descending triangle is shaping since the 14th of Februari. Notice that this triangle is forming after a pretty bullish trend starting from December 2014. This could mean a trend reversal triangle.
There were still people buying up the 1.9600 level. I assume they have a relative tight stop because the first stronger support level is at the 1.9380 area which exposes too much risk.
So if the price breaks and close below the 1.9600 area I think that momentum will build up with bulls becomes bears losing their money.
With this analsys I'm trying to come up with a plan to scale in with my current short positions.
There were still people buying up the 1.9600 level. I assume they have a relative tight stop because the first stronger support level is at the 1.9380 area which exposes too much risk.
So if the price breaks and close below the 1.9600 area I think that momentum will build up with bulls becomes bears losing their money.
With this analsys I'm trying to come up with a plan to scale in with my current short positions.
