Possible breakout of a down trendline.
Updated
There is a well defined downtrendline that was broken today.
First obstacle around 84.00 which may be the first target if this pair goes up.
Stop may be placed around 81.20.
Risk:reward around 1:2.
First obstacle around 84.00 which may be the first target if this pair goes up.
Stop may be placed around 81.20.
Risk:reward around 1:2.
Trade active
There was a retracement today with a retest at the broken down trendline... this price action is better viewed on 4H time-frame.Actually there is a S & R zone from 82.00~82.40 and a close above 82.40 on daily basis should open the door for a more significant move towards 84.00 ~ 85.00.
Trade closed manually
Two bearish daily candles in a row suggest that the sellers are in control and a further retracement seems likely.So I decided to close the trade manually at 82.63 and wait for another opportunity.
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