I've made a 4hr entry on what is essentially a daily trade. I had been waiting to see which way price would break. My feeling was downwards, but TK was tipping this pair as a long trade. Now that price has broken below and retested the channel support as resistance, I think we can be going short now.
So I've entered, but a little impatiently. After entering on the 4hr chart, I noticed that stoch was oversold and heading up, suggesting that there is some more upside to be had in the short term, my guess would be up to around 1.0700 which would have allowed me a better entry and better R:R.
Anyway, I've entered now. 40 pip SL, tucked generously above both previous SR at 1.0719 and above the rising trend line which has been acting as support come resistance.
Let's see what happens...
Daily view
So I've entered, but a little impatiently. After entering on the 4hr chart, I noticed that stoch was oversold and heading up, suggesting that there is some more upside to be had in the short term, my guess would be up to around 1.0700 which would have allowed me a better entry and better R:R.
Anyway, I've entered now. 40 pip SL, tucked generously above both previous SR at 1.0719 and above the rising trend line which has been acting as support come resistance.
Let's see what happens...
Daily view
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