EURUSD Hit Medium-Term heavy resistance

١٦ أغسطس ٢٠١٦

EURUSD Short from the ~1.3000 mark due to the significantly bearish inverted hammer candle strongly rejecting the 1.3219 resistance. RSI is currently in a rising wedge headed to the oversold mark, indicating that the security in question is overbought and lacks the momentum and buying pressure to break through this heavy resistance. My current price targets include both 1.11310 and 1.09130.

Also, take a look at this chart. It provides evidence I used to conclude that the resistance is quite strong as the price has not been able to maintain its gains within the zone.


Thank you for viewing my analysis!

١٦ أغسطس ٢٠١٦

تم فتح الصفقة

Shorting from 1.12882.

١٧ أغسطس ٢٠١٦

ملاحظة

I will add to my short as it rises. Although, I must reiterate that one should open a small position instead of a large position, for it is definitely possible for it to enter the resistance zone. Trade safe everyone! Good luck.

١٩ أغسطس ٢٠١٦

ملاحظة

False breakout. I'm expecting it to now fall to the price targets; I am fully loaded short.

٣٠ أغسطس ٢٠١٦

أغلقت الصفقة: تم الوصول للهدف

First target reached 75% covered.