By observing the H4 time frame, we can see that a strong and accurate wedge has formed, price currently much respecting the trend line and I am firmly favoring a downside fall. However, to confirm the short of this pair price must break the H1 wedge pattern, if wedge holds strongly and rejects the price short we can expect the price to touch one last time to the down side trend line and expect a fall to the down side. What will invalidate this idea is if the price breaks the wedge to the upside and surpasses the recent Lower Highs which are indicated with the yellow highlighter.
Kommentera:
I have taken my profits and closed the trades. Its always good to avoid greed.