Short-term short then long from there
We have a daily/weekly trend line just at the completion point of a potential Shark pattern.
It also looks as if a downward channel has formed to bring us to that point. Being at the top of that channel as we speak, a short from here may be the best way forward in my opinion.
And if my idea does prove correct my target price would be around 1.37, depending upon where the daily/weekly trend line is.
From there, I would go long with a SL under the 113% shark D point and a target price of 1.47-1.50, depending upon where the higher boundary of the upward channel is, giving a good RR wherever that may be.
It also looks as if a downward channel has formed to bring us to that point. Being at the top of that channel as we speak, a short from here may be the best way forward in my opinion.
And if my idea does prove correct my target price would be around 1.37, depending upon where the daily/weekly trend line is.
From there, I would go long with a SL under the 113% shark D point and a target price of 1.47-1.50, depending upon where the higher boundary of the upward channel is, giving a good RR wherever that may be.
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