Price is showing rejections after hitting a monthly resistance zone.
Expect to see strong buy orders at 93.50 - 94.00 due to it still being an uptrend.
I would expect to buy at 93.50 - 94.00 if sellers momentum turns weak, and buyers orders start to show at the lower time frame.
I would expect to sell if sellers momentum continues to become strong. It will triggers buyers stop loss below 94.00.
Expect to see strong buy orders at 93.50 - 94.00 due to it still being an uptrend.
I would expect to buy at 93.50 - 94.00 if sellers momentum turns weak, and buyers orders start to show at the lower time frame.
I would expect to sell if sellers momentum continues to become strong. It will triggers buyers stop loss below 94.00.
Comment:
Comment:
Missed the trade on 94.00. If you entry now, it's a 1:1 risk reward ratio. Would you risk 50 pips for 50 pips? I would not. Go look for another trade to hunt.