Looking at the bearish momentum which topped out at 1.23500, I have decided to short on this trade.
Ideology behind trade (using 4 hour chart):
Clear resistance and 2x candle confirmation of resistance to break 1.235
2x candle confirmation of inability to break 50EMA
Downward trend-line respected.
Stochastic confirms selling momentum on 4 hour chart.
What are your thoughts on this trade?
Where are points I have missed and could sharpen my analysis?
Happy trading :)
RR
Ideology behind trade (using 4 hour chart):
Clear resistance and 2x candle confirmation of resistance to break 1.235
2x candle confirmation of inability to break 50EMA
Downward trend-line respected.
Stochastic confirms selling momentum on 4 hour chart.
What are your thoughts on this trade?
Where are points I have missed and could sharpen my analysis?
Happy trading :)
RR