counter trend trade
this looks like a good set up because the market has rejected from 0.87500 about 95 pips making it a resistance. Now that it has gone back to that same price zone it made a bearish engulfing which tells me sellers are very interested in that price zone. It is a counter trend trade so I'm only taking it for a 1:1 risk reward ratio or to structure depending on how the market looks.
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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.