We have price moving in what i would class as a retracement. I am looking at short term movement in this picture, price is showing potential to sell for at least 100 pips. Stop loss has been marked, if price moves to our stop loss it invalidates this pattern. Take profit has also been marked.
It's very important that you manage your risk. DO NOT risk more than 2% on this trade or any trade for that matter. Capital preservation should be your first priority.
i catch it at 0.62927 hopefully it will keep going higher .. i believe it will keep going up .. what makes you believe it will bounce down again?
Malika_Analysis
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@olhourani7, You maybe right. I follow a set of rules and this trade meets my bearish criteria.I trade in probabilities not guarantees so there's only a 50% chance this trade may be right.