The price failed to trigger my entry for a short position at 1.3710 as pullbacks were halted below 1.3700, before price headed lower to touch levels just above my first target. hitting my targeted area without entry invalidates my setup. However, renewed strong selling pressure is clear on broken support turned resistance , as price forms a major hourly and 2H pin bars, and therefore i remain short the pair. I re-adjusted my first target and stop loss level.
Comments
alex.a
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It was 3rd time knocking the door of 1.38. Possibility Higher ~ especially "Thin Volume" I suppose ~
Technician
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Yeah, it was a comment by Jens Weidmann, said "keeping interest low may endanger political reforms". However, that wouldn't have such big impact under normal liquid market conditions.
Technician
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That is crazy, this is a lesson not to bet on ill-liquid market
alex.a
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Weiner(spell) said ECB must raise interest rate ~ Some said that triggered.
Technician
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Stopped out, typical holidays behavior, markets pop suddenly on thin volume. wait for an opposite similar move