Hi everyone! I'm a bit new to trading, and just trying to apply all that I read and study. With that being said, this is not an idea for trading or for you to trade based upon. I wanted to share a trade I made last night on NZDCHF. I noticed an uptrend here since the 14th of this month, drew out support and resistance levels and noticed that yesterday the price broke out the resistance levels. I placed a few positions in and profited but as I have learned I "looked left" and notice previous resistance levels from last month and earlier this month. Marked that previous resistance levels and set it as my profit target, and went to sleep. I woke up this morning to find that the price hit that resistance/take-profit and dropped. and hasnt gone back up. So for now, keep an eye out on the previous resistance level and trade what you see not what you think!
Trade closed: target reached:
Good thing I got out where I did! Thank you resistance levels!