Price has just formed a double top on resistance, with a shooting star rejecting higher prices, price is also in a downtrend on the daily chart and so you would be trading the direction of the trend.
Take profit is at the next weekly resistance of 1.22000
Stop loss is above previous high on the 4hr chart at 1.26421
this gives this trade a risk to reward of 1 to 4
If anyone has seen any problems with my technical analysis i would absolutely love to hear it and hopefully learn from you thank you very much.
good luck ad happy trading.
Take profit is at the next weekly resistance of 1.22000
Stop loss is above previous high on the 4hr chart at 1.26421
this gives this trade a risk to reward of 1 to 4
If anyone has seen any problems with my technical analysis i would absolutely love to hear it and hopefully learn from you thank you very much.
good luck ad happy trading.