My outlook on this pair is still very , price has been dropping like crazy the past few weeks which you can clearly see and also the price recently tried breaking out of this downtrend with a very move to the upside. This initial move has failed and to me it looks very now, price had tried to break the high of the two swing highs around 81.591 but got rejected and showed weakness to the upside.
Overall I was waiting for a close below the recent lows that price had made while making this post, since then the trade has actually lined up in my eyes, that does not mean you should take it just cause I am taking it. This is just my personal analysis and I will be risking one percent of my total capital on this trade to the downside with a 1:4 Risk Reward.
Trading Week update
I posted two other trades this week and the market went against me but really has not made any major moves this week, maybe due to the lack of in the market since Monday was labor day and the start of the week has been really slow since. Both of my trades were closed half way to my stop totaling a loss of around one percent total, I noticed they weren’t going anywhere so I decided to get them early on and save myself some money. We are coming to the end of the week already and I am just going to see how the rest of the week goes but also will probably stay in this current trade over the weekend.
I hope all of you guys and girls had an amazing long weekend and hopefully you have a great rest of the trading week!
See you on the charts,
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