Sell Scenario 1 (H1 Chart)
We don’t yet have a clear trend line but if the pair consolidates before pushing higher, we will use the low to draw our most recent bullish trend line. Once price reaches the 1.3210 level, we can start looking for the breakout below the TL.
Stop loss – above last high created.
Target 1 – 1.3100.
Target 2 – 1.2960.
Sell Scenario 2 (H1 Chart)
Second way to attack this sell opportunity is to sell with the completion of bearish divergence. Price must reach the magnetic zone first of, then we want to see bearish divergence completing itself and a bearish candlestick pattern. This is when we might sell.
Stop Loss – above most recent high.
Target 1 – 1.3100.
Target 2 – 1.2960.
We don’t yet have a clear trend line but if the pair consolidates before pushing higher, we will use the low to draw our most recent bullish trend line. Once price reaches the 1.3210 level, we can start looking for the breakout below the TL.
Stop loss – above last high created.
Target 1 – 1.3100.
Target 2 – 1.2960.
Sell Scenario 2 (H1 Chart)
Second way to attack this sell opportunity is to sell with the completion of bearish divergence. Price must reach the magnetic zone first of, then we want to see bearish divergence completing itself and a bearish candlestick pattern. This is when we might sell.
Stop Loss – above most recent high.
Target 1 – 1.3100.
Target 2 – 1.2960.
