tagged blue area as important supply level. May place a sell limit order at in between 1.12887-1.12807 with previous high (around 20 pipes) stop loss. Target at around 1.1145 (Risk:Reward ratio 1:8). However if 1.12545 level doesn't get broken the price is likely to drop straight away without coming up to the upper supply level.
Order cancelled:
Seems that the seller came earlier than expected. But was within tolerance because I have already mentioned previously that the price might drop before it even hit the supply level. Personally I am conservative and I am not a big fun of losing trades. Especially when most people holding losing trades, the psychological part takes over the rational portion of the brain.
Lets seek for some other opportunities.
Cheers!
Lets seek for some other opportunities.
Cheers!