Hi guys,
As you can see this pair has enjoyed a wonderful rally in recent weeks. While the RSI is seriously overbought and has reached to a major level of structure and a reversing signal sitting on the top. I have gone short and expecting it to retrace at least to 0.362 level before deciding further movement. I have marked the tp and sl for your as well.
Let me know what you think.
Trade safe and good luck.
As you can see this pair has enjoyed a wonderful rally in recent weeks. While the RSI is seriously overbought and has reached to a major level of structure and a reversing signal sitting on the top. I have gone short and expecting it to retrace at least to 0.362 level before deciding further movement. I have marked the tp and sl for your as well.
Let me know what you think.
Trade safe and good luck.
Trade active
Trade closed: target reached:
I hope you enjoyed the pips.