One of my trades of the week, keep shorting until a support holds or price go sideways.
This is my forecast for the week ahead. It will be updated everyday during asian session for any changes. Do scroll down to look at the comments for updates.
Just because price has reached my area of interest does not mean I will open a position unless I specifically mentioned I would open a position there. I would normally watch the price action before deciding.
Nothing is 100% in trading, it is a game of probabilities. Be nimble when trading, never have a strong bias. I can turn from bullish to bearish in a day if price action tells me so.
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First target reached and support broken, wait for a pullback to short more into next target at 1.2060
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Wednesday
Minimum pullback complete, Shorts opened and waiting for price to plunge to 1.2060.
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Thursday
Still waiting for the downmove to happen. However if price went up from here I would have to rethink my bias.
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Friday
Similar to EURGBP, that Tuesday low needs to be taken out today else it will become support next week.