Weekly Structure - Downtrend (The price is moving lower since 01st January 2018)
Daily Structure - Uptrend (However Daily trendline has been broken and it's now being re-tested together with another touch on the weekly down trendline (Orange line).
On the 4 hour chart we can also see that price has been constantly rejected on 84.500 (8 candles in a row without the body of the candle closed below this price).
We can see price moving lower until 83.100 (last resistance broken and strong level of support and resistance).
TP1 - 83.900
TP2 - 83.600
TP3 - 83.100
SL - 84.833
R/R - 5.82
Daily Structure - Uptrend (However Daily trendline has been broken and it's now being re-tested together with another touch on the weekly down trendline (Orange line).
On the 4 hour chart we can also see that price has been constantly rejected on 84.500 (8 candles in a row without the body of the candle closed below this price).
We can see price moving lower until 83.100 (last resistance broken and strong level of support and resistance).
TP1 - 83.900
TP2 - 83.600
TP3 - 83.100
SL - 84.833
R/R - 5.82
Note
We have a small gap on JPY so you can put entry on break even.Note
Or you can have a small win and see what happens if the price goes up again.Note
Take profit hittedNote
Profit 147 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.