I expected one more downwave in this market, which starded today after breaking the upward dashed blue trendline . now we are consolidating before we might see another impulse down. So look for breakout sells.
Im currently alot short in jpy related pairs or markets so im looking for a bit of a hedge long.
this i think is a great opportunity so play for some more consolidation if we can break recent swing highs.
stopped out and reversed.
stopped out breakeven on my short, now that we broke to the upside, i will be looking for longs, but i will release a new idea for this
with that potential downside i think its viable to sell now. but i personally would wait for a 50% retracment of the last downmove, where the blue line is. that would give you a good price. ofc u might not get in that way
if you even wait a little longer, maybe to that point where the price touches the orange line, then u will be able to place stops above the consolidation and still could take a 1:1 risk reward TG1 at the lows, without having to go for new lows.