Following 'faster and bigger move' on 1H time-frame, RSI crossover simultaneously took place with MA crossover. If you entered sell short right at close of the 1H candle that caused MA crossover, it's perfect.
Now is the time to stay ready for BOC at 14:00 GMT. If you believe that neither will BOC statement be dovish nor will rate-cut take place, you can hold on to sell till 1.3224. Nevertheless, stay tuned with us; should this setups gets invalidated by another setup formed in upcoming hours, you have to see if you need to close it prematurely (before TP).
The sell entered right at the CROSSOVERs, is already in profit, you can move SL to break even point (entry point) if you don't want to risk anything for BOC rate statement.
1D candled cosed below trend-predictor, that supports idea of 'stop grabber' pattern.
It hit 1.3224, stop grabber completed.
Sell limit is modified to 1.33009 because of ABCD100 (retracement against downward thrust post BOC statement) meets at 1.33009
Sell limit 1.33033, target same as per analysis. SL above high of previous 1H candle. Let's see if it gets triggered.
We can re-enter sell if BOC statement will not be dovish/about rate cut. Let's see reaction after news and decide.
I think BOC is gonna be neutral today. A spike may touch SL, so I will rather not put SL and will decide what to do 5-8 minutes after release of BOC rate statement. I am taking a little risk, it doesn't mean necessarily to be suitable for all traders. Safe traders can put SL at BE and stay on sidelines from BOC statement.