TECHNICAL:
Reason 1:
-RSI Bearish divergence
Reason 2:
-Descending triangle pattern formed
-Broke out + possible retest
FUNDAMENTALS:
-Possible escalation of trade war with china, canada, france
Reason 1:
-RSI Bearish divergence
Reason 2:
-Descending triangle pattern formed
-Broke out + possible retest
FUNDAMENTALS:
-Possible escalation of trade war with china, canada, france
Trade active:
Looking like nice rejection off the previous support of the descending triangle.
Trade placed @ 110.471
SL @ 110.745
TP to be updated
Trade placed @ 110.471
SL @ 110.745
TP to be updated
Comment:
Price now rejected resistance twice on the 15min chart with two nice wicks above to close below
Order cancelled:
Price now moved above upper descending trendline of triangle pattern. Trade closed.
- On 1hr chart at open a shooting star was formed- price gapped up, formed a bearish hammer candlestick then gapped down
-On 4hr chart price continued to move down and formed a nice bearish engulfing candlestick indicating possible bearihs movement.