I am looking at several reasons for a sell entry on this pair. Previous highs formed an obvious tweezer top candlestick pattern. I do believe that this pair will drop into the .89000 levels. Entry will be on an engulfing or some sort of reversal pattern. We have entered a resistance zone and upon a break and retest of previous support around the .89063 price level and reversal pattern on a lower timeframe, I will be interested in selling this pair. My stop loss is at .89730 and my 1st T/P level is at .88895 my 2nd T/P level .88599 and my third T/P level will be around the .88100 zone.
Kommentera:
Disclosure: *Results are not typical. Trading is not for everyone and losses could easily exceed investment capital. Use proper risk management and smaller lot sizes to protect individual accounts.