ArmoredBull
Short

EURUSD Hit Medium-Term heavy resistance

FX:EURUSD   Euro / U.S. Dollar
EURUSD             Short from the ~1.3000 mark due to the significantly bearish inverted hammer candle strongly rejecting the 1.3219 resistance. RSI is currently in a rising wedge headed to the oversold mark, indicating that the security in question is overbought and lacks the momentum and buying pressure to break through this heavy resistance. My current price targets include both 1.11310 and 1.09130.

Also, take a look at this chart. It provides evidence I used to conclude that the resistance is quite strong as the price has not been able to maintain its gains within the zone.

Thank you for viewing my analysis!
Trade active: Shorting from 1.12882.
Comment: I will add to my short as it rises. Although, I must reiterate that one should open a small position instead of a large position, for it is definitely possible for it to enter the resistance zone. Trade safe everyone! Good luck.
Comment: False breakout. I'm expecting it to now fall to the price targets; I am fully loaded short.
Trade closed: target reached: First target reached 75% covered.
Great Job!!
Reply
ArmoredBull Timothy1776
Thank you so much!
Reply
http://prntscr.com/c6gk8g
dont get it, price wasn't even there, how is possible you shorted??
Reply
I started my short at the dotted line.
+1 Reply
airmac ArmoredBull
ok got it now, good short
+1 Reply
nice chart
Reply
ArmoredBull flashsolver
Thank you! I appreciate the feedback.
Reply
flashsolver ArmoredBull
why would you short here though?
Reply
ArmoredBull flashsolver
Well, I'm glad you asked @flashsolver. As I have stated within my analysis, the RSI is nearly overbought, thus causing EURUSD to deal with more selling pressure. Although it may break above the resistance, which is a definite possibility, it simply cannot do so without a corrective structure. I'm looking to add to my short should it break above these levels, however.
Reply
flashsolver ArmoredBull
thank you :)
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out