Ive marked the 1HR resistance with that purple line and I like the way the market is approaching it,very slow and weak following a sudden strong move down. will see how the market tests, I want to see weak attempt to go long,then I will short.SL and TP is already marked.
Comment:
After looking at the test coming in,I'm not convinced about shorting just yet. It seems to be as strong as the move down and not as weak as the move up as I would have liked to have seen. I'm going on stand-by with this one.
Comment:
Update Bars
Trade active:
Okay after watching the second attempt from the buyers on the test phase and seeing it fail to break the previous high around 77.100. I'm ready to take the risk,I'm going in. Will keep an eye on the 76.900 price.
Trading CFD's carries high risk. I am only using trading view as a trading diary and not as a signal service. Please trade wisely.
Trading CFD's carries high risk. I am only using trading view as a trading diary and not as a signal service. Please trade wisely.
Trade closed: stop reached:
Ouch! just took a hit,perhaps should of waited for a bit more confirmation,like a break of support at 77.000 price. I will keep this in mind next time.Back to the drawing board I'm done for today :D