This is a short trade that probably will need some management. Entered short as bearish price action signaling at least a short pull back, but could be more of a correction. Interesting news yesterday could potential skew trade and create false signals.
Short @ 1.25361; SL@ 1.2560
Around 1.2515 is where I'll consider either moving SL to net neutral trade &/or reduce position size.
1M:
1W:
1D:
Impulse leg down finished with daily close below support zone. Didn't last as bullish price action immediately followed. Retraced through zone and various weak-moderate S/R. Last completed candle is bull with bearish wick.
Short @ 1.25361; SL@ 1.2560
Around 1.2515 is where I'll consider either moving SL to net neutral trade &/or reduce position size.
1M:
1W:
1D:
Impulse leg down finished with daily close below support zone. Didn't last as bullish price action immediately followed. Retraced through zone and various weak-moderate S/R. Last completed candle is bull with bearish wick.
Trade active
I took most of my profits on the original trade and then got back in on the retrace @ 1.25252. New SL currently at 1.25999, however that may get reduce as we go along. Trade closed: target reached
Took profits at 1.24491Nice trade. 76 pips.
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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.