Reasons for
- Clearly price is putting in lower lows and lower highs (Clear Downtrend)
- Price broke key level at 120.00 A week back so we maybe heading to next key level ?
- Price has put 3 touch on short term 4 Hour trend line
- Price put in doji the a bearish engulfing and clearly bearish candle then another bull green candle then another gearish engulfing so clear sign the sellers are in control at the moment pushing price down
- We are creating a type of right angle triangle with key structure level (Meaning a strong push of the breakout will occur)
-
Daily
- Previous daily candle was a bearish hammer
- On the daily we are clearly down trending so we are following the trend (The trend is your friend)
- We are also making lower swings
- Price is trading bellow previous key level before cleared on the daily and weekly (A sign that we are looking to go to lower level if enough momentum)
So all these confluences clearly show more potential to the downside
therefore i will be entering
My ENTRIE WAS 117.216
- Clearly price is putting in lower lows and lower highs (Clear Downtrend)
- Price broke key level at 120.00 A week back so we maybe heading to next key level ?
- Price has put 3 touch on short term 4 Hour trend line
- Price put in doji the a bearish engulfing and clearly bearish candle then another bull green candle then another gearish engulfing so clear sign the sellers are in control at the moment pushing price down
- We are creating a type of right angle triangle with key structure level (Meaning a strong push of the breakout will occur)
-
Daily
- Previous daily candle was a bearish hammer
- On the daily we are clearly down trending so we are following the trend (The trend is your friend)
- We are also making lower swings
- Price is trading bellow previous key level before cleared on the daily and weekly (A sign that we are looking to go to lower level if enough momentum)
So all these confluences clearly show more potential to the downside
therefore i will be entering
My ENTRIE WAS 117.216
Trade closed manually:
Closed Early for 60 Pips profit
