Well the levels are plotted out on the chart, and this pair is a short until it breaks above 0.7700 for me. Others might argue the contrary but until the trend is broken then I trade in the direction of the trend. The levels I'm looking for any signals to enter short are the Weekly S/R (0.7550), and if that level is invalidated then I will look to the next level which is the Daily 100 MA resistance & if you look left its also the previous resistance for the double top formed. And if that level is invalidated then I will move on to look for short signals at the last line of resistance which is the previous weeks high pivot at 0.7700 (And also confluent with the .786 Fibonacci Retracement plotted from the previous high at 0.7856 to the low at 0.7165). Good luck to all, and happy trading.
Do note that we do have Non-Farm Payrolls tomorrow so just keep that in mind. I will keep you updated if price action gives me a signal to enter short. Cheers =)
Do note that we do have Non-Farm Payrolls tomorrow so just keep that in mind. I will keep you updated if price action gives me a signal to enter short. Cheers =)