UJ short double resistance after two legs up

May 10, 2016

We're at a horizontal resistance level and a long term trendline. We also just made two legs up from a prior congestion area. It may be a good idea to wait for a confirmation candle at least on a 1h, but i think its a good bet to short here , risking about 70-80 pips and aiming for a test down to 108.

May 10, 2016

Note

We're at a horizontal resistance level and near a long term trendline. We also just made two legs up from a prior congestion area. It may be a good idea to wait for a confirmation candle at least on a 1h, and the market MAY try to get closer to the TL, but i think its a good bet to short here , risking about 70-80 pips and aiming for a test down to 108.