EUR/USD - sell on 1H after breakdown from triangle formation
Market is in correction movement after retracing several times from 1.123 resistance area. I expect a down movement correction to golden ratio fibonacci retracement area (0,5 line) which is also take profit area. Stop loss is very tight because market is currently testing the triangle resistance. Expect at least up movement to triangle resistance trend line if market jump back within triangle.
-Stochastic RSI is in heavy overbought area and near correction movement
-MACD on daily near bearish crossing of baselines
-Bollinger bands start down movement which implements incoming correction
-50 day moving average (yellow line) near bearish crossing with 100 day moving average (blue line)
-Stochastic RSI is in heavy overbought area and near correction movement
-MACD on daily near bearish crossing of baselines
-Bollinger bands start down movement which implements incoming correction
-50 day moving average (yellow line) near bearish crossing with 100 day moving average (blue line)
Trade closed: stop reached
Comment:
market going to hit the drawn take profit area after touching the SL with 50 pips - damn very unlucky trade
The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
