138.200 Is One Tough Resistance
I got in on sells earlier during the day at 138.000 but got stopped out so i waited for price to go back to 138.200 and a confirmation on H4 if price could break this level or not, it didn't.
I waited for an extra hour but price still didn't break resistance so it became clear to me that price had reached a peak in it's bullish momentum and the bears were taking control again, i got in on sells after a confirmation on the 15 minute time frame.
Due to the fact that lawmakers refused to grant the parliament time to prevent a no-deal Brexit, the pound lost strength hence the 50 pip drop. This conveniently happened on a major weekly resistance ( 138.200 ) so i'm thinking price might head down to 136.700 ( Based on a daily structure ) and if it breaks 136.000 ( Based on a weekly structure ) but there are levels to clear before getting a further push down mainly 137.500 , 137.000 then 136.700 and finally 136.000.
I'll be taking profit in small percentages on each TP level, i also set my SL to 3 pips above Break Even just in case another whipsaw happens.
I waited for an extra hour but price still didn't break resistance so it became clear to me that price had reached a peak in it's bullish momentum and the bears were taking control again, i got in on sells after a confirmation on the 15 minute time frame.
Due to the fact that lawmakers refused to grant the parliament time to prevent a no-deal Brexit, the pound lost strength hence the 50 pip drop. This conveniently happened on a major weekly resistance ( 138.200 ) so i'm thinking price might head down to 136.700 ( Based on a daily structure ) and if it breaks 136.000 ( Based on a weekly structure ) but there are levels to clear before getting a further push down mainly 137.500 , 137.000 then 136.700 and finally 136.000.
I'll be taking profit in small percentages on each TP level, i also set my SL to 3 pips above Break Even just in case another whipsaw happens.
העסקה בוטלה באופן ידני
Closed for +45 pips, i don't think i'll get the move that i want this week
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פרסומים קשורים
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.