Despite the very nice Key Reversal candle which has also formed the top of this Ascending Wedge pattern, for me this EURUSD Short is not yet oven ready.
Until RSI support line (shown above) is breached, there remains a strong likelihood for any Stop's above the local pivot high to be run out.
Trade box is for illustration purposes only.
Until RSI support line (shown above) is breached, there remains a strong likelihood for any Stop's above the local pivot high to be run out.
Trade box is for illustration purposes only.
Order cancelled:
Trade did not trigger. RSI system prevented me from jumping the gun on the very 'tasty' key reversal, which turned out to be a trap, as is the case with most of the 'obvious' low hanging fruit on Forex.....once upon a time I would have been caught out by that trap....but not today.
Trade did not trigger. RSI system prevented me from jumping the gun on the very 'tasty' key reversal, which turned out to be a trap, as is the case with most of the 'obvious' low hanging fruit on Forex.....once upon a time I would have been caught out by that trap....but not today.