A New Trading Opportunity To Sell. TP4 hit.....

٢٧ أبريل ٢٠١٨

New trading suggestion:
*The price is in a down trend and we forecast the down trend would continue.
*There is still possibility of temporary retracement to suggested resistance line(0.71750), if so, traders can set orders based on Price Action and expect to reach short-term targets.

Entry signal:
Signal to enter the market occurs when the price comes to "Sell zone" then forms one of the reversal patterns, whether "Shooting Star" or "Peak", in other words,
NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone.
To learn more about "Entry signal" and special version of our "Price Action" strategy FOLLOW our lessons:

Trade Setup:
We opened 13 SELL trade(s) @ 0.7351 (day close price) based on 'Two-day reversal candle ( Shooting Star )' at 2018.04.13

Closed Profit:
TP1= @0.7305
TP2= @0.7240
TP3= @0.7175
TP4= @0.7055

Open Profit:
TP5= @0.6950
TP6= @0.6820
TP7= @0.6620
TP8= @0.6430
TP9= @0.6245
TP10= @0.5930
TP11= @0.5485
TP12= @0.4900
TP13= Free

Midterm forecast:
While the price is below the resistance 0.7560, resumption of downtrend is expected.
Price may also reach 0.7175, if price reaches this level, we may enter by Daily-Trading-Opportunities, this entry depends on personal strategies.

Technical analysis:
A peak is formed in daily chart at 0.7395 on 04/13/2018, so more losses to support(s) 0.7175, 0.7055, 0.6950 and more depths is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index ( RSI ) is 28.