Probabilities favor a down move: 1) Regime filter: Strong downtrend. 2) Broken support turned resistance - resistance respected by a bounce downwards when tested 3) High reward to risk ratio - a meaningful stop loss placed at the psychological level of 0.64
Trade type: 1) Long term trend following: 2 weeks to 3 months time frame. - pyramiding down as trend integrity strengthens 2) Short term day trading: 4 hours to 2 days - pyramided trades added during short term reversals - trades allowed to run when theres a potential for them to evolve into longer term trades