The USD has been on a bit of a rampage over the past couple weeks and there's not much sign of a slowdown yet.
I am looking for a good chance to enter a sell which may require some patience.
I've drawn out my entry line where I would like to see a drawback and rejection form to help confirm my bias.
As usual, I've drawn out partial take profit levels on the way to my overall target at the bottom of major price structure support.
I've placed my stop for this setup a few pips above a previous rejection wick that I'll be watching to help hold resistance for that further move down I'm anticipating.
If we fail to get a drawback or rejection, or if our bearish confirmations change, this setup may become invalidated.
I am looking for a good chance to enter a sell which may require some patience.
I've drawn out my entry line where I would like to see a drawback and rejection form to help confirm my bias.
As usual, I've drawn out partial take profit levels on the way to my overall target at the bottom of major price structure support.
I've placed my stop for this setup a few pips above a previous rejection wick that I'll be watching to help hold resistance for that further move down I'm anticipating.
If we fail to get a drawback or rejection, or if our bearish confirmations change, this setup may become invalidated.