Market: Ranging / Choppy
1. High test / like (29th of April 2016)
2. Price rejecting key daily / weekly @ 1.46400
3. Price rejected 1.46400 area & formed similar pattern on 4th of Feb 2016
Order Type - Pending Sell
Risk / Reward - 1 : 2.33
Stop Zone - 1.46760
Target Area - 1.43350
Note: reason for pending sell order is due to price trading above 50 and no clear sell signal on the 4 hour and 1 hour chart - momentum still evident.
Incase this turns out to be a fake sell signal, pending order is the better option.
Agree / Disagree? Comment Below?
However it's usually these types of trades that end up being the most favorable to our direction. I've found if I'm hesitant about a position, they are the ones to pay attention to.