pound yen is standing on a key daily/4H structure.
once the price reached the underlined structure, the market leaves multiple clues to consider:
RSI divergence,
weak indecision candles,
double top formation on 1H.
now I am looking for a 1H candle close below 131.9 to short the pair on pullback.
my stop will be - 132.6
t1 - 131.16
t2 - 130.70
risk - 1%
(moreover, we have a nice potential to see further decline below these levels, leave so profit for stop trailing to catch a big winner:)
if the minor support is respecting and market sets new higher high, setup will be invalid
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