Why is this a sell? Market has been trending up for days and the market loves structure. This broke through resistance without a pullback.
Due this move upwards it needs to find grounding to validate its move up. This means it will retest our support line to see if this move was valid or not.
Think of the forex market like a rubber band. You can stretch it but it always comes back to its original structure.
The stochastic is overbought and the macd is showing signs of weakness. This will be a good 67 pip sell.
Due this move upwards it needs to find grounding to validate its move up. This means it will retest our support line to see if this move was valid or not.
Think of the forex market like a rubber band. You can stretch it but it always comes back to its original structure.
The stochastic is overbought and the macd is showing signs of weakness. This will be a good 67 pip sell.
Trade closed: target reached
67 pips profit!
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.
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.