Hi again traders
here is another potential trade I've been watching for a few weeks now. As you can see, price has hit previous structure/resistance which is a key indicator for a reversal.
My RSI set up has shown that price has reached the overbought area and has already started its reversal which you can see on the chart as well with a strong bearish candle on the daily time frame.
My shorter moving average signal is very close to crossing over to the downside showing a strong signal of a change in trend.
Price has gone into the 61.8% retracement zone and turned around giving us another signal for a change to the downside.
I would look to enter this trade around the 7.200 level with your first TP: 7.000 and TP:6.900 - 6.800
I would consider a safe place for your stop loss to be around the 7.350 price level.
Good luck traders.
Plan your trade, trade your plan.
here is another potential trade I've been watching for a few weeks now. As you can see, price has hit previous structure/resistance which is a key indicator for a reversal.
My RSI set up has shown that price has reached the overbought area and has already started its reversal which you can see on the chart as well with a strong bearish candle on the daily time frame.
My shorter moving average signal is very close to crossing over to the downside showing a strong signal of a change in trend.
Price has gone into the 61.8% retracement zone and turned around giving us another signal for a change to the downside.
I would look to enter this trade around the 7.200 level with your first TP: 7.000 and TP:6.900 - 6.800
I would consider a safe place for your stop loss to be around the 7.350 price level.
Good luck traders.
Plan your trade, trade your plan.