Looking for a re-active bounce of resistance
The price hit a key horizontal resistance outlined on chart around 1222.00, formed a hanging man and attempting to close below the low of the candle and that would confirm a possible bearish move in my view. RSI is showing a negative divergence as well..
I will wait for the running four-hour candle to close below the low of the hanging man at 1216 to initiate my short limit order for a quick reactive reversal trade. I will update when active.
Be one of the first members of my new trading portal, check my new website thefxchannel.com/ , vote and subscribe. Thank you
Trading Criteria:
1.Trades are taken in two units
2.First unit would be closed at first target
3.Stop loss is then moved to break-even
4.Second unit would be closed at second target
Notes:
5) If 90 percent of first target is reached without triggering entry I cancel the trade
6) If 90 percent of first target is reached I move stop loss to breakeven.
7) Remember: Losing is a main part of the game
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www.facebook.com/thefxchannel
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My best regards
Technician
The price hit a key horizontal resistance outlined on chart around 1222.00, formed a hanging man and attempting to close below the low of the candle and that would confirm a possible bearish move in my view. RSI is showing a negative divergence as well..
I will wait for the running four-hour candle to close below the low of the hanging man at 1216 to initiate my short limit order for a quick reactive reversal trade. I will update when active.
Be one of the first members of my new trading portal, check my new website thefxchannel.com/ , vote and subscribe. Thank you
Trading Criteria:
1.Trades are taken in two units
2.First unit would be closed at first target
3.Stop loss is then moved to break-even
4.Second unit would be closed at second target
Notes:
5) If 90 percent of first target is reached without triggering entry I cancel the trade
6) If 90 percent of first target is reached I move stop loss to breakeven.
7) Remember: Losing is a main part of the game
------------------------------------------------------------------------------------------------------------------------------------------------------------
twitter.com/thefxchannel
www.facebook.com/thefxchannel
plus.google.com/+Thefxchannel0
My best regards
Technician