Technical Entry

So if you superimpose the monthly on the daily you will see that the monthly tenkan is slicing at an diagonal angle. The daily close has respected this line since last week. The weekly is giving us a beautiful hanging man which is adding confluence to our short thesis. We are interested in the blue shaded zone as a target because this area was once a resistance zone and it also harbors the 0.64000 strong level. So our entry has to be a bit technical here, the daily candle on Friday made a hug wick and by principle our stop loss should be above this. If we enter on close of Friday's candle the RR will be bad so we need to adjust that. We drill down to the H4 and notice that it was due for a bullish retracement to test its own tenkan breakdown (the yellow zone). So we put a sell limit order just below that 0.6500 zone and let it play. That increases our RR to about 2 depending on if it takes us to the TP or we close early on a reversal candle.

Entry: 0.6497 ( sell limit order
SL: 0.6543 ( above wick)
TP: 0.6403 ( blue zone)

NB: