This pair is ranging within a rectangle and has been in this type of consolidation movement for a while. The upper resistance line has been tested 4 times and price has failed to broke through indicating it's strength. On the 4 hour chart, price has tested this resistance level and bounced off of it forming a shooting star. Every time this level has been tested there have been long upper wicks showing selling pressure. On the 1 hour chart, price has bounced straight off forming 3 bullish candles.
Trade stängt: målet nått:
Happy with trade, before taking the trade and playing support/resistance I waited for the candle to close with as much confirmation as possible.