It's still forming, but if this thing starts breaking down, it could go down pretty far. i will be shorting this thing, taking profits and reshorting as it bounces up depending on what it does.
Long term trade, make sure you calculate your risk with stops just above 1.8.
Happy Trading, -Sherem
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When I poted this was at 1.7750, 100 pip move down. Looking good. If you are looking to enter, ladder in now with positions to short if it moves back up, or wait for a retrace.
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taking profit here, going to try and reshort it if it rebounds
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shorting again at this 1.7750 level, with another sell laddered at 1.7873, might move it to 1.7850, we'll see
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We took some profit on this GBP and re entered at 1.7750. I have a ladder placed just below 1.79 to take advantage of this channel action we have going on for the next rebound before a major move down.
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Taking profit, placing ladders between 1.77 to 1.7950 to reshort