The weekly long-term GMMA (orange) for this pair has very recently made a bearish cross after a long period of compression. During this period, the weekly short-term GMMA (blue) has been pointing down and the group of blue EMA's have been well spread, only showing periods of weak compression. This information indicates that there is a high likelihood that a new bearish trend for this pair is in place. Meanwhile, price has been moving upwards in a corrective move in what is likely to be new bearish trend, providing a good opportunity to join the train. The Stochastic indicator show a bearish divergence. i.e. price made a higher high, but stoch failed to do so. In turn the RSI seems to had broken a upwards trend line (black line in RSI plot), although price have not done the same yet.
Order 1:
Entered @ 2.1158
SL @ 2.1735 ( a little above the weekly long-term GMMA (orange))
TG @ 2
Trade management: boxes in units of risk-to-reward ration
Order 2:
Entered @ 2.1158 ( a little above the weekly long-term GMMA (orange))
SL @ 2.1735
Tg @ open downside level
Trade management: boxes in units of risk-to-reward ration. Stoploss is moved to break-even as soon as Order 1 hits the corresponding target level.
Lets see what happens!
Happy trading all!
Order 1:
Entered @ 2.1158
SL @ 2.1735 ( a little above the weekly long-term GMMA (orange))
TG @ 2
Trade management: boxes in units of risk-to-reward ration
Order 2:
Entered @ 2.1158 ( a little above the weekly long-term GMMA (orange))
SL @ 2.1735
Tg @ open downside level
Trade management: boxes in units of risk-to-reward ration. Stoploss is moved to break-even as soon as Order 1 hits the corresponding target level.
Lets see what happens!
Happy trading all!
Trade closed: stop reached