in follow up of my last post, i have enough confirmation to be able to enter the short. SL is set above the currenct open price of 132.404. TP is on the currenct support at 130.716.
After breaking the previous resistance this shooting star doji on the 4h timeframe might indicate that the price may drop down to the now new support and bounce back up.
Upwards trend on EUR/USD on the 1h timeframe. If it retests the trendline i might enter in a long position all the way up to current resistance which would give 33 pips profit. SL would be placed tightly under the trendline to minimize exposure and risk.
