after being correct in predicting the upward move on this pair (see attachment) we took our profit near 83.00. Now i changed my mind, just watching price action. I'll explain you why.
Basically we are testing a strong , both in the daily and in the weekly, therefore we could expect some strong resistance here. In addition to that, we also have a completion right there, together with pattern and some Fibonacci extensions. The is very deep so it provides a very good risk to reward.
Nonetheless, being a conservative trader, i want to see more confirmation. We've just entered a OVERBOUGHT condition and now i want to see a formation signaling selling strength like a or an candle.
I'll let you know if i'm selling this.
As usual, feel free to write below if you want to share your standpoint or if you want to ask questions.
Otherwise, see you in the next chart!
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