Weekly Rejections at the monthly level of 0.7750 since last year. More recently, we've had doji and spinning top rejections against monthly resistance. Signs of a reversal and momentum turning to the downside. Lower highs on the spikes are also visible.
Daily After an indecisive Thursday last week, Friday was a bearish engulfing taking out 2 days worth of prior price action. Price has been rejecting the daily barrier of 0.7600 this week.
H4 Break of our 4 hour TL with retest-rejection as shooting star and continuation. MAs crossed to the downside as well as the competion of lower highs and lows - this forms a downward facing TL. We also have just put in a bearish engulfing candlestick. Our 1 hour CTL has been broken.
Kommentar
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SL moved to beyond BE
Trade geschlossen: Ziel wurde erreicht
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95 pips profit.
Kommentare
ravi1995
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Precise analysis and great risk to reward trade! Well done.
Trader_Dale
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Hello mate, I think that there will ba a huge up/down move soon. The reason is that big players have been putting heavy volumes there for a whole month. They will want to move the price to make big money. I hope this move wont go through yours (and also mine) weekly support around 0.7575.
Best of luck!
Dale
*You can have a look at some of my analysis at my profile if you would like. I publish them every day.
Mandeep.Singh
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@Trader_Dale, Hello, thanks for the comment - that move you were talking about has happened!