The price fell down below the 4h support but bounced strongly from 7.27 zone. Now the price is at hourly resistance and I expect a pullback here. This pullback may extend till 7.35-7.36 area. Therefore, a short trade is favorable here with a target to 7.35-7.36.
Note
The price has not reached to the target but did move down towards the target. Ideal would have been to close half the size on corssing half the profit target. But now the stop should be moved to breakeven price.Trade closed: target reached
The price has hit the target. Currently it is trading below the target and likely to go further down. We will see how low it can go before a bounce in the next post.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.