Short

Three peaks at resistance point

Updated

I have been watching this pair very closely today as it broke the very long term trendline (purple) and I am expecting it to move back down to the bottom purple line of channel in due time. Distance from Kijun is also very high and a retracement has to happen naturally. Possibility is to wait for more clear trend direction change and use a bigger stop loss instead of guessing top with red trend line as I do here. You can target much lower than this take profit and increase risk to reward but probability of trade finishing will be much lower.

Trend lines when zoomed out:

Note

Trade stopped out, conclusion: I was impatient to wait for a more clear signal as it was late and needed to go to bed. FOMO mistake but technical analysis was a great call of price going down at this line.

Note

Honestcowboy

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by Honestcowboy

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