During the fall, the price then came to the point 0.925, where it used local support and returned to growth. During the growth, it was able to consistently break through the 0.961 , the 0.966 line, and now it made a false breakout of the 0.986 resistance line.
However, I am convinced that after a false breakout, the price will fall again. This is indicated by both a strong resistance line, and a long rise that cannot continue for too long without pullbacks, and a false breakout itself.
Therefore, now I expect the price to start falling and come to the support line of 0.972.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
In addition, the Absolute Strength Indicator I use (which is tweaked Hot) showed a sell signal which gave me my entry.
I normally let my money management get me out of trades ...
(I was wondering if you use a particular indicator as an exit indicator? and if so what is it and what setting do you use?)
if a long position - the price will go up and you need to buy.