EURUSD has engaged in a long term sell after hovering around 1.16670 for the past week. Price formed a triple top on the 4H and rejected the 200ema on that timeframe multiple times as well. This trade was taken on Oct. 25th at 9am GMT.
Trade active:
price ended up faking out before rejecting the resistance. I re-entered shortly on the 4hr around initial entry price.
price ended up faking out before rejecting the resistance. I re-entered shortly on the 4hr around initial entry price.
i ended up closing this trade after price breached this 1.16200 area of support/resistance it had been hovering at for the past couple of days. being under the 200 ema and under the 1.16700 resistance, price could still tank from here, but my exit rules prompted me to get out.