Daily/4H - Rising Wedge Pattern - Suggesting a move to the downside is a high probability. With some strong resistance zones of 1.28 round numbers and 1.2840 (.618 Fib) just above my area of interest.
I have a couple areas for entry noted (pink sell lines), depending on what price action is like early in the week.
I will be watching for news catalyst events as well.
COT/Big Boys are net short on this pair, suggesting they see more downside as well.
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Trade triggered at 1.2798 overnight. Target 1 reached. - move SL to breakeven +2
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Targets updated on lower TF
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Near 2R Zone and 50% Fib. I am seeing a Falling Wedge forming. Suggesting that some strong upward movement is a high probability. Probably a correction. I have tightened up my SL to Lock in 50 pips.
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The confluence of Bottom of the channel, Falling wedge, and RSI divergence suggests an up move is a high probability during the London session. As I am heading to bed soon, I will close this trade and take my 60 pips profit, and good night to all.