I am new to forex and just using this to keep a log of my trade ideas. NOT trading advice.
Trade Idea:
Price broke structure and has retraced 90% of the leg up, which may indicate trend weakness/failure. I expect price to retest the resistance at 125.500/600 and continue down but since there is a bullish divergence on the 4hr RSI, I can see price trying to go higher to retest the previous highs. I'll be looking to short at 125.600 but if price breaks resistance and goes higher, I'll look for a short at 126.100
This picture is of the previous uptrend that EJ had...
Trade Idea:
Price broke structure and has retraced 90% of the leg up, which may indicate trend weakness/failure. I expect price to retest the resistance at 125.500/600 and continue down but since there is a bullish divergence on the 4hr RSI, I can see price trying to go higher to retest the previous highs. I'll be looking to short at 125.600 but if price breaks resistance and goes higher, I'll look for a short at 126.100
This picture is of the previous uptrend that EJ had...
Comment:
EJ didn't go up all the way to 125.500 level but i was able to get in at 125.220
Comment:
Got stopped out at break even on the first short attempt, and MISSED OUT on the second short!!! It missed my order by 5 pips