Readers will know that I took some pips out of this pair last week (grey elipse). Tom, was looking for an entry on a 1H close below 1.7460.
Well we're watching the chart as I write and the entry candle is forming...
If the trade triggers, our stop loss will be a close above the pink descending resistance line, currently 120 pips North. And we will be targetting the 1H 800 sma.
R.
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