The H4 zone has been a strong supply zone (resistance) with prices consistently reversing once the market has reached this point.
It can be seen that prices have looked to have reversed once again.
I will look to sell into the next H1 zone below (1.76500ish). Potentially also the next zone down as a target too.
Please note I'm just using this as practice, for the future. If there is anything else I can improve on please let me know. Always learning. And probably wrong lol. Cheers.
Trade closed: stop reached
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Damnnn. Stop loss hit.
I probably set my stop too tight and probably too trigger happy for a short considering the strong initial upward momentum.
Although the trade didn't work out' I'm quite encouraged that the analysis was generally correct.