1. Price has broken the inside bullish trendline and is retesting it
2. Head and Shoulder has been formed, and price has retraced into the 0.5 fib level in the H&S structure
3. H1 Stochastic is in Oversold region and has divergence
If price is rejected by the H1 Kumo cloud and closes bearish, I will take a short position with half lot.
I will add another half lot if price breaks and closes below the minor counter trendline (green line) and the 0.382 fib level.
SL above 1.5580 (preferably 1.56000)
TP1 @ 1.5460
TP2 @ 1.5400
TP3 @ 1.5330
Final Target @ 1.5200
It may involve many retracements before getting to our final target.
Trade with care, plan your trade and trade your plan. All the best traders