Ascending triangle in a downtrend, below the moving averages, falling volume, flat RSI on this timeframe, long rejection wicks on the hourly timeframe, seriously weak Euro and NZD after last nights report, but whose going to be weaker, I choose the Euro, in the down trend.
Note
We've broken down through the descending triangle bottom, we'll carry on beyond 1.697 Trade active
Trade active and profitable - 21/05/2018 - 04:25 @1.7042 - target 1.6105Note
Look at those candles rejecting the moving average and lots of heavy bearish volume, we're going down! Beautiful Note
We're currently stuck in a range, if you're not in this trade, catch an entry at the top, and wait for the breakout, to continue the downtrend, how do I know it will continue down? We're divergent on the daily chart and volume is declining on the way, meaning we have a bearish bias and that's the direction we're going in, but obviously, we might now, anything can happen, once we break to the downside, I'm looking for my first target down at 1.69650
Trade closed: target reached
Taken profit target, I'll let the rest run....Trade closed: target reached
Second target achieved, this turned into a lovely tradeTrade closed: target reached
Final target achieved.Note
Re-entered this pair @1.68 a lovely move down afterwardsNote
Smashing through the 200 EMA was an important breakthrough, target now 1.62Trade active
Trade closed: target reached
Made a lot of profit on this, target achieved
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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.