I am always look for 2nd retracement / retouch while taking a position. Here the daily trend has significantly changed its direction to Bullish bias on the start of current week. Yet We are at a very strong Resistance Level. First It touched on Tuesday 06th August 2019 and did some down movement. I was still waiting for the key position to hit again. And the same happened. Yesterday, It made a high at 1.6786 where we have been waiting for the price direction eith up or down....
Today It gave us a bearish engulf right @ Key Level which in my view, is the confirmation of short bearish direction. We are going to take some nice pips here...
Signal
Sell Stop @ 1.6515
SL 1.6615
TP 1.6300
Remember to be ready for buy from 1.6260 area.
Today It gave us a bearish engulf right @ Key Level which in my view, is the confirmation of short bearish direction. We are going to take some nice pips here...
Signal
Sell Stop @ 1.6515
SL 1.6615
TP 1.6300
Remember to be ready for buy from 1.6260 area.
Trade active
Trade closed: stop reached:
SL hit at Break Even @ 1.6615
