Hello traders,
Although the last daily candle (6.10.) looks very bullish, my sell setup idea is based on the following points:
1.) At the H1-Chart I have recognized a very hard resistance level. (red box)
2.) This level is in confluence with the 61.8% fib-retracement.
3.) At the M15-Chart (or even better at the M5-chart) we can clearly see the classical formation of a bearish flag.
Of course, my longterm idea of closing the gap from april will be splitted in two parts:
1.) I have opened a sell position on friday with a smaller lot-size for my longterm target. (about 900 pips) This position will run in the background and I will move my sl only every few weeks, maybe once a month.
2.) My first target for shortterm is about 1.1620-1.1600. After this will happen, I move my longterm-sl to breakeven and leave it there for a long time.
That's it folks!
So, don't get trapped in any buying ideas, because the last daily candle looks so nice bullish...
Any comments or questions and likes are very warm welcome.
I wish you good luck and a lot of pips!
Although the last daily candle (6.10.) looks very bullish, my sell setup idea is based on the following points:
1.) At the H1-Chart I have recognized a very hard resistance level. (red box)
2.) This level is in confluence with the 61.8% fib-retracement.
3.) At the M15-Chart (or even better at the M5-chart) we can clearly see the classical formation of a bearish flag.
Of course, my longterm idea of closing the gap from april will be splitted in two parts:
1.) I have opened a sell position on friday with a smaller lot-size for my longterm target. (about 900 pips) This position will run in the background and I will move my sl only every few weeks, maybe once a month.
2.) My first target for shortterm is about 1.1620-1.1600. After this will happen, I move my longterm-sl to breakeven and leave it there for a long time.
That's it folks!
So, don't get trapped in any buying ideas, because the last daily candle looks so nice bullish...
Any comments or questions and likes are very warm welcome.
I wish you good luck and a lot of pips!
Comment:
Resistance is broken, so my idea was not correct. The downtrend is finished and only buying is winning.