This setup tends to have a high probability. It's when we get 3 attempts to break recent high and we fail and form a 3 step like formation. This formation has typically given us a high probability of failure and resumption of the trend which we feel is bearish here on this pair. We have been short on this pair and this gives an opportunity to open a short position or add to your existing position.
This is just our opinion.
-TRADEPLICITY
This is just our opinion.
-TRADEPLICITY
Note
We are still holding our short position.
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Related publications
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.