Daily chart shows price moving between Support and Resistance. Notice the 2 Doji. The Rejection Candle has closed below the low of the 2 Doji indicating price is ready to move lower. This is also a signal to enter a Short Trade. I will be entering this market on the Open with a market order. Stop Loss is placed 2 pips above the high of the rejection candle. Price Target is set at support. This is a 4:1 reward to risk ratio trade.
If this currency pair is ready to move lower then price action should make lower highs and lower low candles and the Stop Loss will not be hit. If this is not a valid trade setup then the Stop Loss will be hit for a small loss.
If this currency pair is ready to move lower then price action should make lower highs and lower low candles and the Stop Loss will not be hit. If this is not a valid trade setup then the Stop Loss will be hit for a small loss.