A solid weekly resistance formed at 1.1057 - 1.1063 area, from where the price is retracing. On daily time frame The last swing Fibonacci has drawn where now the price is retracing on its 50% retracement. It is the confirmation that 1.1057 - 1.1063 area is a strong weekly resistance from where the price may drop.
Now the three consecutive lower lows of H4 pattern gets us interesting in Selling this pair.
Signal
Sell Stop @ 1.1040
SL 1.1070
TP 1.0980
If the price retrace from psychological Level of 1.1000 then we will check and close the trade manually.
My each risk is 2% of my account.
My lot size for this trade 0.08
Risking pips 30
Rewarding Pips 60
patience is necessary.
Now the three consecutive lower lows of H4 pattern gets us interesting in Selling this pair.
Signal
Sell Stop @ 1.1040
SL 1.1070
TP 1.0980
If the price retrace from psychological Level of 1.1000 then we will check and close the trade manually.
My each risk is 2% of my account.
My lot size for this trade 0.08
Risking pips 30
Rewarding Pips 60
patience is necessary.
Trade active
Trade closed: target reached:
booked 60 pips profit.
