We can clearly see the touch on the resistance and a clear rejection with the bearish closed candlestick (I am looking at my broker's chart which is a bit more accurate compared to this SAXO BANK). We can also see that the bearish (red candlestick) is bigger than the green which indicates a bearish engulfing pattern and therefor a reversal.
!!Another sign is the overbought position the pair is in and the bearish divergence we can see. I am waiting for a big move to the downside. And therefore I will short this pair!!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
!!Another sign is the overbought position the pair is in and the bearish divergence we can see. I am waiting for a big move to the downside. And therefore I will short this pair!!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
Trade closed: stop reached:
Lose