The trade idea is based on Structure trading
Trade active:
For those who did not get the entry or possibly looking for an entry sell position, there are 2 valid opportunities.
Support & Resistance
1. look for a double top on the hourly chart and possibly an exhaustion or harami candle.
Place Sell stop at this point., with Stop Loss at a 127% fib extension of the 2 bearish candles
Trend Continuation
2. Place Sell Limit Order at 61.8% retracement of the 2 bearish candles.
Place Stop Loss at 127% extension of the 2 bearish candles
Note
There are news events early in trading week look out for gap in price. see link for news events www.fxstreet.com/economic-calendar
Good luck in trading Guys
Support & Resistance
1. look for a double top on the hourly chart and possibly an exhaustion or harami candle.
Place Sell stop at this point., with Stop Loss at a 127% fib extension of the 2 bearish candles
Trend Continuation
2. Place Sell Limit Order at 61.8% retracement of the 2 bearish candles.
Place Stop Loss at 127% extension of the 2 bearish candles
Note
There are news events early in trading week look out for gap in price. see link for news events www.fxstreet.com/economic-calendar
Good luck in trading Guys
Trade closed manually:
Manualy close TP #1
@ 105.80 Safe Exit
@ 105.80 Safe Exit
Comment:
see chart
Comment:
Possible counter trend Not for the risk averse trader
RSI Oversold
Consolidation
Upcoming minor news
Success rate 50 %
RSI Oversold
Consolidation
Upcoming minor news
Success rate 50 %