Trade Scenario 1: Bearish - Price has broken below our 200MA on the 1h and 30min timeframe once again. If we are to look short we need to see a clear LH form below the 200MA and around the weekly level at 126.23. Enter on bearish engulfing/variations.
Trade Scenario 2: Bullish - If we are to look long we need to see price break above the 200MA on the 1h timeframe. We will then look for a retrace and a HL to form at or above the weekly level at 126.23. Enter on bullish engulfing/variations.
Trade Scenario 2: Bullish - If we are to look long we need to see price break above the 200MA on the 1h timeframe. We will then look for a retrace and a HL to form at or above the weekly level at 126.23. Enter on bullish engulfing/variations.