Market price is approaching a resistance level and momentum is reaching a resistance level as well. As long as market price stays below 1.007 and momentum stays below .004 area this is a safe trade. If momentum breaks above the resistance level I have in place the trade would no longer be safe and should be possibly closed as it could open up room for a bullish move.
Note
200 EMA (blue) will act as a TP
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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.