Looking at higher timeframes (Daily, Weekly) price is in a short term downward trend.
IF price reaches the upper trendline acting as resistance AND candlestick formation on lower time frames (15m, 30m, 60m) show signs of a reversal
THEN a short trade will be taken around 1.70866
TP1 (short term) - 1.69525
TP2 (long term) - 1.68175
IF price reaches the upper trendline acting as resistance AND candlestick formation on lower time frames (15m, 30m, 60m) show signs of a reversal
THEN a short trade will be taken around 1.70866
TP1 (short term) - 1.69525
TP2 (long term) - 1.68175
Note
Closed 75% of trade at 1.6894 with 97 pip profit.Reason for early partial close - on 1H time frame the lower lows flattening off and potential breakout to the upside could occur.
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Disclaimer
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.