Re-Test sell on the Break of 137.500
Updated
Price broke below 137.500 on H4 then dropped down to a mini demand zone on H4 @ 137.170.
Now price has pushed back up into the newly formed Resistance, price held this level for 5 days as a support level and a H4 broke out confirming that the market isn't ready to buy the pound.
I let my previous sells run and set my SL to 40 pips above B.E, I also decided to cap all my profits at 137.000 then i'll be done for the week.
For now my directional bias remain bearish because there isn't any fundamental factors to support a bullish move yet.
Now price has pushed back up into the newly formed Resistance, price held this level for 5 days as a support level and a H4 broke out confirming that the market isn't ready to buy the pound.
I let my previous sells run and set my SL to 40 pips above B.E, I also decided to cap all my profits at 137.000 then i'll be done for the week.
For now my directional bias remain bearish because there isn't any fundamental factors to support a bullish move yet.
Trade closed manually
I don't like how it's pushing up so I closed my trade for a -2 pip loss. I'll be looking to take sells at a better price point like 137.600 or even 137.700 for a H1 re-test.
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