Bounce off resistance & trendline
RSI oversold. Price revisted the 1.283 zone following NFP and is being rejected strongly.
Trade closed: target reached
Price reached the target TP zone. Price currently barely reached the exact TP as indicated on the chart. Locking in profits @ 1.2715. Reason being the move occurred an hour before London open, when prices may reverse- I call this phenomenon the London Fade.Note
As expected, price reversed at London open
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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.