Watching for sell opportunity. See longer term charts below for direction justification.
To open a short position, I'm looking for either:
1) A clear DN trend on 1H chart (will require break of 122.5 support area) OR
2) Reversal price action if EJ moves to red box zone on chart
If it is #2 scenario, I would most likely scale into the trade.
1M:
1W:
1D:
4H:
To open a short position, I'm looking for either:
1) A clear DN trend on 1H chart (will require break of 122.5 support area) OR
2) Reversal price action if EJ moves to red box zone on chart
If it is #2 scenario, I would most likely scale into the trade.
1M:
1W:
1D:
4H:
Note
UPDATE: EJ is finishing a consolidation pattern. The trading plan above basically remains the same except less restrictive. For example, #2 scenario, the price reversal doesn't need to be in the red box for a short entry. Really any pull back reversal &/or continuation works to enter. No matter #1 or #2, I will probably scale into any trade because of likelihood of increased volatility. 
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.