GJ: 4H RSI Divergence at top an early reversal (400 pips drop?)
Updated
Technical: I have seen many times before that 4H RSI divergence at top or bottom of price is an early signal of trend reversal. I've given a link of my previous analysis where price was dropped around 500 pips. I am expecting that to happen here too. But again this is a long term trade and could take up to few weeks. In the journey there could be some price manipulation and some ranging may happen also.
Fundamentally: Next month US Fed will increase interest rate so US dollar will be stronger and hence big guys should take long term position from here.
Fundamentally: Next month US Fed will increase interest rate so US dollar will be stronger and hence big guys should take long term position from here.
Comment
I have 1 high volume trade opened -Trade 1: Sell 157.11
TP: Open
Hedge Buy Stop: 158.35
Comment
Engaging another Sell Order -Trade 2: Sell 157.36
TP: Open
Hedge Buy Stop: 158.35
Comment
Holding both my orders with profit. Hoping to see an impulse down anytime soon.Comment
Added another Trade on top of existing two -Trade 3: Sell 156.76
TP: Open
Hedge Buy Stop: 158.35
Trade closed: target reached
Closed all my positions at very good profit at 155.63 ..I'll re enter short from a better price point later this week . I am anticipating a bounce back 155.55 - 155.50 area
Comment
Trade 1 Profit : 148 pipsTrade 2 Profit : 173 pips
Trade 3 Profit : 113 pips
Total 434 pips
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Trading Forex carries significant risk and losses associated with forex trading may be greater than initially expected
This is not a financial advice. Do your own research before you trade.
Trading Forex carries significant risk and losses associated with forex trading may be greater than initially expected
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