Finally, a pair that might be great for a sell order! I have placed a sell stop order with following parameters:
Price: 0.70914
S/L: 0.71407
T/P: 0.69905
My thoughts: Well, when I look at my "beautiful" rainbow chart and compare the monthly, weekly and daily it says that the trend will continue a bit longer . The pair has been going up for the last couple of days but I think that it will change and continue with its downtrend to about 0.69905 where a strong support is lurking.
Price: 0.70914
S/L: 0.71407
T/P: 0.69905
My thoughts: Well, when I look at my "beautiful" rainbow chart and compare the monthly, weekly and daily it says that the trend will continue a bit longer . The pair has been going up for the last couple of days but I think that it will change and continue with its downtrend to about 0.69905 where a strong support is lurking.