From the higher time frame it can be seen that the pair is doing the downtrend. Additionally, the pair has been forming the fake uptrend to induce buyers.
Therefore i believe the pair has trapped buyers. Thus, shoring the pair might be good idea. Possible entries can be seen on EMA or DMA.
As you can see here the fake uptrend has been formed during the Friday and Monday (“The Trap Days”). Also, there are many zones where buyers can be trapped. Thus, i believe shorting is the best probable trade.
Lets see how it goes. BUT DON’T FORGET TO USE PROPER Money Management.
If not sure how to trade i recommend to do backtesting.
Trade setup worked like a charm, Have gotten my 40 pips at take profit. You can
- Close Trade
- Close Partial Trade Move SL to Break Even
- Move Sl to break even to ride till 150pips swing