Simple price action technical analysis based on SR, trend lines, and chart patterns.
I have entered short, under the anticipation of a double bottom under development, after a very long up movement. It looks like the end of this up movement is to be reversed.
This is a counter-trend trade.
TP1 - Target 1 is at the first support line at 107.6
TP2 - Target 2 is at the first support area, with potential for reversal.
TP 3 - Final target, T3, is at 4RR to 105 area where we can see another potential reversal.
SL above preview high.
Trade Safe!
I have entered short, under the anticipation of a double bottom under development, after a very long up movement. It looks like the end of this up movement is to be reversed.
This is a counter-trend trade.
TP1 - Target 1 is at the first support line at 107.6
TP2 - Target 2 is at the first support area, with potential for reversal.
TP 3 - Final target, T3, is at 4RR to 105 area where we can see another potential reversal.
SL above preview high.
Trade Safe!
Trade closed: stop reached:
Fundamentals won over technical analysis. SL Hit