Just entered a short on this pair! Analysis on chart!
My CTS was as follows : 1. Minor structure 2. Overbought on 4 hour, 1 hour and 15 minute 3. Double top 4. Bearish divergence 5. 1.272 Fib extension 6. 1.414 Fib extension
Entry - low of bearish engulfing candle (1 hour chart) marked with the pink horizontal - 123.35
SL - Above highs of double top - 123.55
TP - Back down to structure - 122.90
Risk reward - Over a 2:1
Any comments and or constructive critisism is welcome!
Happy trading everyone!
Comments
Tahlil-Forex
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still at the short , so you think it could reach 120 levels??
SmartTradingFX
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I was stopped out of this trade... Have you any positions?
RJHumphries7d
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Looks good to me. A trade I've taken myself. We could even see a lower TP... 120 would be pretty sweet
SmartTradingFX
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Personally stopped out as my stop was too tight as i was shooting for a low risk trade! We go again! Hows your position looking? Thanks for the comment! Apprciated