Now we can see that price is currently at a lovely trend line that has formed on the daily chart, we can also see that this is the 3rd touch of this trend line and if you have been following me for a while you know the 3rd touch is most likely to produce a bounce even after such bearish power the last couple of days price will need a break and bulls could take over for a while.
We will be watching to see if price breaks or bounces, a bounce could see price reverse where we could catch 30 pips and move stops to break even to catch the bigger move if it happens, or the break of this level could see price move lower very fast, if price does break we will be waiting for price to come back up and test this trend line as resistance before we take a sell trade.
As always trade safe and use protection, and that doesn't mean put a condom on before you place the trade.
We will be watching to see if price breaks or bounces, a bounce could see price reverse where we could catch 30 pips and move stops to break even to catch the bigger move if it happens, or the break of this level could see price move lower very fast, if price does break we will be waiting for price to come back up and test this trend line as resistance before we take a sell trade.
As always trade safe and use protection, and that doesn't mean put a condom on before you place the trade.