We are seeing an area of resistance right now and it failed to break. It also made a lower low recently and to confirm the move it also made a lower high. All of this indicates we are in a downtrend. We need to wait for confirmation when price breaks the 50 with momentum or when it breaks the trendline. This will be a 60 pip win if we are successful. Use proper risk management for this trade.
Trade closed: target reached
60 pips secured. If you waited for the break in the trend line it would’ve been 54 pips.
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.
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.