Easiest way of technical analysis. Keep the chart clean yet understanding what every conventional trader is thinking. A smart trader is the one with the most patience. Do you have that quality ?
Price at resistance. stops need to be moved.
This is a counter trend day trade but its giving decent risk/reward and can continue to trend below to test 0.66800 area.However short term trend is up so look for possible reversal around here to long side. Beauty of day trading is one can trade in any direction but just needs to find out the best setups. The only thing we know before a trade where our stops would be.
Trading can be easy or complicated. It's each trader choice to slap thousand indicators or simply trade what you see.
Hammer made on heavy volume and breakout. Will watch for longs tomorrow.