Price hasn't been able to break the resistance level at the 124.28 handle, currently testing it again for a double top pattern. However, the price is showing some resilience in finally breaking it.
If bulls fail to break the current level, it will give a bearish bias to the pair, where a short paly the "stop" type could capture the downward movement towards the ascending trendline in confluence with the 200MA from where the price has kept bouncing previously.
The order:
Type: sell-stop
S/L: 20 pips - R:R | 1:2 -
T/P: ascending trendline
--
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If bulls fail to break the current level, it will give a bearish bias to the pair, where a short paly the "stop" type could capture the downward movement towards the ascending trendline in confluence with the 200MA from where the price has kept bouncing previously.
The order:
Type: sell-stop
S/L: 20 pips - R:R | 1:2 -
T/P: ascending trendline
--
*** If you like the idea, don't be shy, click on like and comment. If you do not agree, just comment ;-) | Thanks for your support!!! ***
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FEEL FREE TO CHECK MY SOCIAL NETWORKS FOR MORE MARKET INFORMATION 🇺🇸 🇪🇸
INSTAGRAM:
instagram.com/og.fxtrader
FREE TELEGRAM:
t.me/ogfxtrader
TWITTER
twitter.com/ogfxtrader
FACEBOOK
facebook.com/ogfxtrader
INSTAGRAM:
instagram.com/og.fxtrader
FREE TELEGRAM:
t.me/ogfxtrader
twitter.com/ogfxtrader
facebook.com/ogfxtrader
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.