price formed a triple top in H1 timeframe and an evening star pattern, combined with bearish regular divergence on both the MACD and RSI, gave me a bearish bias to this pair. I will take a trade when price retraces a little closer to the resistance line to enter, the break of the mini support trendline could accelerate the fall to the bottom of the larger channel. Partial profits can be taken at previous support areas and SL set to BE.
Comment:
price hit SL quite quickly, could be due to recent high impact USD news
Comment:
error, price has not hit SL yet but is spiking up
Trade closed: stop reached:
SL hit, however I have already placed a hedge position targeting top of trendline. SL was tight enough to prevent larger loss, and not too tight to get taken out by volatility. lots of market manipulation this week, can be seen by increasing ATR of EU.
