We are clearly in a down trend here on the 1hr. We are currently puting in the outside return.
I will be waiting for price to close inside the reversal zone. If Price closes inside the reversal zone without breaking and closing higher than the previous outside return I will enter short.
We do have the .7200 even handle just above the reversal zone that could offer a extra level of resistance and possibly keep price inside the reversal zone.
Risk profile is based off of IF price just closing inside of reversal zone and could change dependng on where price actually closes.
This is just an Idea trade at your own risk.
I will be waiting for price to close inside the reversal zone. If Price closes inside the reversal zone without breaking and closing higher than the previous outside return I will enter short.
We do have the .7200 even handle just above the reversal zone that could offer a extra level of resistance and possibly keep price inside the reversal zone.
Risk profile is based off of IF price just closing inside of reversal zone and could change dependng on where price actually closes.
This is just an Idea trade at your own risk.