The reversal started a little before I got to my charts, so I'm not involved yet, but this will be the number one pair on my trading radar as we head into today's Live Trading session.
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What I understood a 2618 is supposed to be is this:
We have a double top with a movement downwards afterwards breaking the neckline of the tops. Once this movement ends the 61.8 level would be an entry point for a 2618. What am I missing?
Thank you for making us better traders ... I appreciate your contribution.
This is an aggressive trade, but all RSI in all timeframes are extremely oversold. So why is the stop loss so tight and the trade is closed. don't you think that it has to retest the resistance level at 1.311? then we can exit the trade with minimum loss.
Please let me know how you would analyze it. Thank you.