Hello everybody!
Price is in a strong bearish trend and has broken a support area, which we now expect to act as resistance.
The break of the upward trendline adds a second confirmation to take a short position.
The target is around 1.14990.
The stop loss is placed beyond the downward trendline and will be trailed along with it.
If the downward trendline is broken, the short position will be invalidated.
Trade active
Trade closed: stop reached
We had a sudden move in the market, which led to the break of the downward trendline.So, the position is now closed.
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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.