this analysis may come too late, for this setup met my rules for entry at the previous close, but i want to share it anyway because maybe the price will come back to retest the entry zone. And there i will be waiting for my orders to be filled.
Price is testing a daily (blue box) and it's already OVERBOUGHT, that's when i start to look for trading opportunities down on 4hr and 1hr charts. This time we put an kicker on the 4hr chart.
If you follow me you would remember one or two shorts on this pair last week, i got stopped out both times. But keep in mind, the last trade doesn't change your overall edge on the market. Don't be affected by the last trades' results.
My order will be placed at 1,0061s
Stops and targets as in the chart above.
If you have any question or remark feel free to write it below.
Otherwise, see you in the next chart.