Current price action retesting broken triangle support line at 1.448 - 1.453
Macro favours a short position as well, as the RBA looks increasing likely to end its easing cycle, while the ECB mulls additional stimulus in its Dec meet.
Height of triangle : Approx. 1,700 pips
Trade Idea:
Short : 1.45-1.453
SL : 1.463
First TP target, 1.37-1.38 (1/2 of triangle, 850pips), also the 2014/2015 lows
2nd TP target, 1.27-1.28 (Full height of triangle breakdown)
Comment:
Shifting SL to entry at 1.453
Comment:
SL tripped during the US presidential day, which turn out to be a fakeout.
Position closed.
Position closed.