Good evening traders,
I am currently looking at this chart possibly shorting it. The price is currently in a range. The resistance prevented price to go higher. I am "predicting" a short position from 1.0940. Pull back from this current level to eventually hit the TP at 1.08.
My reasons to enter this trade:
1. The price is currently in a downtrend
2. It already rejected the resistance line making a clear move downwards
3. Price fell down fast, could be a good indication that a pullback is in the make.
Tips: Be patient, do not enter too early, let the price action tell you where to go next, don't be afraid of being left out.
If you don't enter you don't lose.
Always do your own analysis before placing any trades and make sure you use proper risk management.
I am currently looking at this chart possibly shorting it. The price is currently in a range. The resistance prevented price to go higher. I am "predicting" a short position from 1.0940. Pull back from this current level to eventually hit the TP at 1.08.
My reasons to enter this trade:
1. The price is currently in a downtrend
2. It already rejected the resistance line making a clear move downwards
3. Price fell down fast, could be a good indication that a pullback is in the make.
Tips: Be patient, do not enter too early, let the price action tell you where to go next, don't be afraid of being left out.
If you don't enter you don't lose.
Always do your own analysis before placing any trades and make sure you use proper risk management.