Hi traders,
As you can see this pair is trading within a channel for a while now which is a good thing. Recently we had nice push up and we are almost close to the upper band which also a strong resistance level. Hence I'm anticipating a trend reversal from that point and placed a sell order based on that and expected to reach short term target. I have marked the tp and sl for you as well. Please make sure to lookout for a bearish engulfing candle at least on the 1h chart at the upper resitance level before going short on this.
The sl is place just above the previous high.
Let me know your thoughts.
Trade safe and good luck.
As you can see this pair is trading within a channel for a while now which is a good thing. Recently we had nice push up and we are almost close to the upper band which also a strong resistance level. Hence I'm anticipating a trend reversal from that point and placed a sell order based on that and expected to reach short term target. I have marked the tp and sl for you as well. Please make sure to lookout for a bearish engulfing candle at least on the 1h chart at the upper resitance level before going short on this.
The sl is place just above the previous high.
Let me know your thoughts.
Trade safe and good luck.
Order cancelled:
Price action didn't create any bearish engulfing candle instead just shoot up hence no trade taken.