Entered into a short position this morning. My previous long idea hit the target, which is great. Looking at where we are, we have a strong resistance now at 1,37500 areas. I'd expect a small pull back into the 50 % Fib zone. You can see on the chart where I have set my TP and SL. There's more of a tighter stop loss with this trade.
It could possibly fall some more, however, if that was the case, I would move my SL for a risk-free trade and see how far it could drop. There's a bit of uncertainty, what with Covid cases in the UK, the vaccine etc.
It could possibly fall some more, however, if that was the case, I would move my SL for a risk-free trade and see how far it could drop. There's a bit of uncertainty, what with Covid cases in the UK, the vaccine etc.
Trade active:
Looks like we're starting to see a break now to the downside. Let's hope we can hit the target
Trade closed: target reached:
Hit target