While the price is below the resistance 0.9760, beginning of downtrend is expected.
We make sure when the support at 0.9200 breaks.
If the resistance at 0.9760 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Trading suggestion: There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (0.9460 to 0.9515), if so, we would set orders based on Daily-Trading-Opportunities and expect to reach short-term targets.
Beginning of entry zone (0.9460)
Ending of entry zone (0.9515)
Technical analysis:
A peak is formed in daily chart at 0.9515 on 03/15/2018, so more losses to support(s) 0.9270, 0.9200, 0.9100 and more depths is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index ( RSI ) is 46.
Entry signal: Signal to enter the market occurs when the price comes to "Sell zone" then forms one of the reversal patterns, whether "Shooting star" or "Peak", in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about "Entry signal" and special version of our "Price Action" strategy FOLLOW our lessons: Take Profits: TP1= @ 0.9380 TP2= @ 0.9315 TP3= @ 0.9270 TP4= @ 0.9200 TP5= @ 0.9100 TP6= @ 0.9000 TP7= @ 0.8860 TP8= @ 0.8680 TP9= Free
having same setup.... accidentally got in at bottom, risking almost 100 pips... should I cut losses and seek to reenter or hold through and wait it out?