(Click on the 3-Hour chart to enlarge it)
Prices formed a beautiful Flag/Pennant, which is a high-probability continuation pattern of the current Bearish trend.
So my strategy is:
SHORT 1.4395 with STOP at 1.4451 and LIMIT....let the profits run on this one... or you can set the 1st one at 1.4221.
I urge you to keep trying to ride this bearish rally, in case u get stopped out in your first attempt and if this Flag/Pennant pattern gets confirmed. Resistance at 1.4451 might not work. Next relevant one is at 1.4484. If prices rally up to there, it´s a good entry point for sell short.
