I was kicked out with my stop loss placed at 111.029 at this price/zone we witnessed a retrace before continuing to be bullish
at 111.100 and 50% on the Fibonacci the candle closed with price being pushed heavily to the bottom, the following candle showed similar familiarity
this signified that the market was about to change direction, we did see this happen at 111.200 to form a double top.
we had two candles that proved a change in direction known as TWEEZER TOPS and as a result price is now at 101.023
I anticipate a Bearish Break through to 110.050.
the Risk to Reward Ratio that I used on these trades is 1:3, meaning that for the two trades taken today, I have successfully made back the amount lost on the first position
at 111.100 and 50% on the Fibonacci the candle closed with price being pushed heavily to the bottom, the following candle showed similar familiarity
this signified that the market was about to change direction, we did see this happen at 111.200 to form a double top.
we had two candles that proved a change in direction known as TWEEZER TOPS and as a result price is now at 101.023
I anticipate a Bearish Break through to 110.050.
the Risk to Reward Ratio that I used on these trades is 1:3, meaning that for the two trades taken today, I have successfully made back the amount lost on the first position