Trend lines have a magical power to them. And this is a very very interesting chart, in my opinion, especially, for sell entries. Once again, yes, there is a massive up trend. I know. Any one can see that. But what about reversals, trend changes, pivot moves, etc. I believe trend lines and horizontal levels must be the guiding light for us on the tumultuous surface of the ocean of Forex trading. Yes, yes, yes, the price can go upwards from here on. Of course, yes, because it is GBP after all which is the queen of base currencies, I would say, but those trend lines have the magical powers to them. Remember that! Coming to the setup itself :-) if the price breaks below a trend line, espeically, on the lower time frame, a possible break out is probable, on the upside or to the lower side, whichever the case may be. On this chart, if the price breaks below a trend line, wait for it to go back up to it to retest it, and enter there. At the same time, the price can also bounce off the trend lines just like horizontal levels. Watch out for that as well. Risk is always there. Risk will always be there. Life is risky, as they say. You are not getting out alive, any way!
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