Currently ranging between 132.527 as a sub low range and 133.884 as a sub high.
In general the higher timeframes indicate a downtrend. I have circled the double tops formed on the 1H timeframe because at Both these points we see a the bears pushing to break the resistance.
I assume we will range in the channel I have indicated before proceeding through the zones until zone 3 is reached.
Zone 1 - here I would look for a clean candle break and close below the resistance and an entry.
Zone 2 - Here would be a sensible RR (risk reward ratio) & TP (take profit) zone for my trade based on my SL (stop loss) set at 133.670.
In general the higher timeframes indicate a downtrend. I have circled the double tops formed on the 1H timeframe because at Both these points we see a the bears pushing to break the resistance.
I assume we will range in the channel I have indicated before proceeding through the zones until zone 3 is reached.
Zone 1 - here I would look for a clean candle break and close below the resistance and an entry.
Zone 2 - Here would be a sensible RR (risk reward ratio) & TP (take profit) zone for my trade based on my SL (stop loss) set at 133.670.