Learn the 'language of charts' and you'll be trading without fear. After a very simple (7-bar) 'ledge' entry on the weekly chart (2 matching highs and 2 matching lows - with at least one bar between the matches), chances are, that prices will close the 'hanger' bar from Nov. 10 of last year at 1.3345. A hanger is a bar where the open and low or open and high are the same price (or less than 1 pip difference) and the price has not been touched every since (which is the case here). When the hanger closes, prices should trade very close to or below 1.3300 as I have posted some time ago. the 50% retracement from the past 2.5 years is at near 1.3000, where a minor trend line is met as well.
"a little bit of knowledge is a dangerous thing"