We have approached the upper boundary of the range in the daily chart, touching it with a shooting star. The body of this shooting star came over the previous candlestick, forming an engulfing. So, now it could possibly be a great time to go short:
There are many approaches to this scenario. One of them could be to sell the asset at the market opening. The other for an example a possibility to sell the pair away from the middle point of a shooting star to bring the stop loss order down: Sell Limit 1292.00, SL=1303.00, TP=1215.00.
In the current situation the resistance level 0.9260, is not far. This is one of the optimal levels to possibly make profitable transactions from if the scenario is correct. We could then wait for the reversal candlestick patterns to form to open short positions:
Stay tuned for more and trade with Tickmill!