If we look at the 1H chart, we will see the stable uptrend and the price at 1.14000 resistance zone. The market is stretched. You can see how far the price is from SMA50.
Please, look at the previous price action in the same situation. The price reversed and moved back to SMAs. It gave us profitable selling opportunities. We can try to catch a possible pullback this time following the same setup.
Estimated entry and exit points:
Sell below 1.13985
Stop above 1.14115
Profit Target at 1.13485
Risk per trade must be no more than 3-5% from the trading capital.
What do you think about such trade? Share your thoughts in comments.
P.S. as I don't use like-bots and other solutions that show great "interest" to my posts, I will be grateful if you support my work by your LIKEs and comment. Of course, if you can do it. The feedback from REAL people is priceless!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
Please, look at the previous price action in the same situation. The price reversed and moved back to SMAs. It gave us profitable selling opportunities. We can try to catch a possible pullback this time following the same setup.
Estimated entry and exit points:
Sell below 1.13985
Stop above 1.14115
Profit Target at 1.13485
Risk per trade must be no more than 3-5% from the trading capital.
What do you think about such trade? Share your thoughts in comments.
P.S. as I don't use like-bots and other solutions that show great "interest" to my posts, I will be grateful if you support my work by your LIKEs and comment. Of course, if you can do it. The feedback from REAL people is priceless!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
Comment:
Dear friends, who support the continuation of the uptrend, please share your arguments. I tried to explain why this short trade makes sense. Also, I showed you the same 3 setups which could give good profit.
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