This is the reverse BPL strategy called the BPS (Belly Push Short) strategy. It is similar in the methodology as noted in the $GBPUSD here.
The following image shows the BPS’s correctness two times. I am sure you will be amazed to check that out for yourself that BPS strategy works same way as it works with the BPL strategy. Have a look below.
Note the instances presented two times at the closing candles in 4Hrs charting, as seen in the image viz. at Dec 16th 1600 hrs and at Dec 19th 0400 hrs candle for going “Short” (Highlighted by Blue Vertical Lines). I was just amazed to look the BPS do its spin just as seen in BPL one more time and every time presenting cool 30-50 pips.
Do let me know what you think of both the BPS and the BPL strategy and if it worked for you. I’ll be happy to know your suggestions as well. Thank you.
PS: Don’t forget to do your part of charity if this strategy works for you. No conditions apply! 😉