Here we can clearly see that the market has reached a very strong area of resistance. You can tell by the huge amount of rejections from that area (shown in graphs with arrows). So we can expect a strong pullback from this area. We have to be very smart on where we place our stop loss, because the market may push to the upside, activate everyone’s stop losses, before dropping. Thus I encourage everyone to use smaller lots for this trade with a wider stop loss.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.