Price is heading towards 1.780000
Updated
Yesterday price rejected 1.80400 and dropped 97 pips leaving behind a reversal pin bar candle on the daily.
Today's daily candle opened and pushed up to retest the broken support @ 1.79800 then rejected this level on H4.
My idea was:
I waited for the next H4 candle to open, then i got in on sells but i got in too early so i closed the trade and took a better entry right from the resistance @ 1.79700 with a much tighter SL.
Following the weekly pattern, price should continue dropping down to the weekly support / demand zone @ 1.780000.
I have two profit targets in mind based on how price acts up. My first TP @ 1.78700 and second TP @ 1.78000 if and when the support of TP 1 is broken.
Today's daily candle opened and pushed up to retest the broken support @ 1.79800 then rejected this level on H4.
My idea was:
I waited for the next H4 candle to open, then i got in on sells but i got in too early so i closed the trade and took a better entry right from the resistance @ 1.79700 with a much tighter SL.
Following the weekly pattern, price should continue dropping down to the weekly support / demand zone @ 1.780000.
I have two profit targets in mind based on how price acts up. My first TP @ 1.78700 and second TP @ 1.78000 if and when the support of TP 1 is broken.
Trade closed manually
Closed the trade because it wasn't playing out as i had anticipated. I'll be looking a better entry once everything points back down.
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