As we can see in the photo we've been in a nice uptrend the past week, holding strong still. Price might continue to rise, however I have a pending set as it appears that momentum is now heading to the downside. Expecting us to fill the previous range if we break the trend line/ Please note, price action and the squeeze of the ema. On the 1H timeframe we see the 14/50 ema squeeze, look that up, its a key sign of a shift of momentum as it gathers steam for a big push.
Comment:
Would also like to note that on the daily you can see we're in a large downtrend. Price is touching the trendline very soon, and expecting a push down.
Trade closed manually:
Alright guys I closed this at 1:1 just now. Not bad, but was hoping for a better push. As you can see I market it up as 1:5, My bias hasn't changed on this pair, it will still drop. However it appears as if its making one last small push up before blasting back now. Grab my profits, and sit on my hands to hopefully look for another entry soon after it pushes up.
As I am typing this its been 3 minutes since closing, and its blasted up about 8 pips. 5M timeframe appears ready to breakout upward. Glad I got out when i did.
As I am typing this its been 3 minutes since closing, and its blasted up about 8 pips. 5M timeframe appears ready to breakout upward. Glad I got out when i did.
