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taming_the_mind
Sep 14, 2016 3:32 AM

EURGBP short from downward channel and failed to breakout Short

Euro Fx/British PoundFXCM

Description

As suggested, short from the downward channel, price tried to break out of it but failed from this resistance level around 0.85235. Already pull back and retest. Resistance level continue to be valid. Also, Reversal of RSI around 66 (overbought).

Target 1 : 0.84451
Target 2 : 0.8370

Trade closed: stop reached

can be a trap to stop out ppl. look like it is trying to form out another reversal signal again. we shall see.
Comments
SungPLM
ok i think i got what u mean by reversal of rsi i did not know it was a strong indicator to take in consideration
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