A nice potential reversal as price broke out the triangle pattern, now testing 1.16000 level. Once cleared, targeting 1.18000 (200 pips). Stop loss can be tight (around 40 pips) or at the bottom of the Monday daily open (around 100 pips)
A double top followed by a clear break of the blue zone has triggered my sell signal. The next key area of resistance would be 1.54500 area. Let's see what happens.
Reasons to enter a sell trade:
- a double tops meaning a reversal could be on the cards.
- price has moved away from the outer Bollinger band
- RSI shows a downwards divergence
- a clear break of ...