Based on the price, a strong rejection from a major resistance area is about to happening. This market reaction can show us the power of sellers at this area and a weakness on buyers. So I consider it as a demand area and that's why we can see this rejection here!
So based on this scenario, I opened a sell position on the chart with a good risk reward ratio (about 1:2 TP1 -- 1:4 TP2).
Note: As always please take risk management rules into consideration before opening any position on the market.
Good Luck!
So based on this scenario, I opened a sell position on the chart with a good risk reward ratio (about 1:2 TP1 -- 1:4 TP2).
Note: As always please take risk management rules into consideration before opening any position on the market.
Good Luck!