Weekly chart , price action breaks above 1.121, 4th attempt since the inception at 28 Feb 2022.
Day chart tells us profit taking/shortists are in town from the two red candles on 22 and 23 April. It has since gone south , forming lower high.
Zooming into the 4H chart, we see a nice bearish candle forming and if it breaks the yellow dotted line, it is likely to revisit 1.131 target. IF you are more conservative, you can set your SL higher (around 1.139).
When this trade is halfway active, you can Short once more and set your target further down 1.126. Please make sure to set your SL to breakeven on the first trade before you exercise your 2nd trade to protect your profits.
As usual, please DYODD
Day chart tells us profit taking/shortists are in town from the two red candles on 22 and 23 April. It has since gone south , forming lower high.
Zooming into the 4H chart, we see a nice bearish candle forming and if it breaks the yellow dotted line, it is likely to revisit 1.131 target. IF you are more conservative, you can set your SL higher (around 1.139).
When this trade is halfway active, you can Short once more and set your target further down 1.126. Please make sure to set your SL to breakeven on the first trade before you exercise your 2nd trade to protect your profits.
As usual, please DYODD
Trade active
Profit target 1 hit, congrats to those who followed!we are now proceeding to trade set up 2
Trade closed: target reached
Praise God, we are in profits for both setups !
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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.