Major resistance level reached
Updated
1. Resistance at 1.32091
2. Selling off the resistance of the rising wedge pattern, this level is pretty close to the major resistance level
3. Essentially a sell signal like a hanging man/bearish engulfing would be an ideal confirmation
4. Targeting the support of the rising wedge is a good first target in my opinion
5. 1.30000 would be my next stop IF price continues to fall (next big support and psychological level)
Aggressive traders usually enter now at market price 1.31930
Stop loss above the major resistance around 1.32628
Take profit 1 1.31267
Take profit 2 1.30000
Always exercise healthy risk management, don't bet the farm and seek professional advice before making investment decisions.
2. Selling off the resistance of the rising wedge pattern, this level is pretty close to the major resistance level
3. Essentially a sell signal like a hanging man/bearish engulfing would be an ideal confirmation
4. Targeting the support of the rising wedge is a good first target in my opinion
5. 1.30000 would be my next stop IF price continues to fall (next big support and psychological level)
Aggressive traders usually enter now at market price 1.31930
Stop loss above the major resistance around 1.32628
Take profit 1 1.31267
Take profit 2 1.30000
Always exercise healthy risk management, don't bet the farm and seek professional advice before making investment decisions.
Trade closed: stop reached
-67 pips
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