Quick short idea based on a simple bearish doji reversal pattern and an overbought UC:
1. Bullish movement
2. Doji (cross), indicating indicision
3. Bearish candle
The new daily pivot provides a nice conservative target, as this pair has been in a vicious uptrend. SL above structure highs.
Note: For counter-trend trades such as this one, a small position size is recommended as momentum is not in your favor.
1. Bullish movement
2. Doji (cross), indicating indicision
3. Bearish candle
The new daily pivot provides a nice conservative target, as this pair has been in a vicious uptrend. SL above structure highs.
Note: For counter-trend trades such as this one, a small position size is recommended as momentum is not in your favor.