It looks like price has run out of steam at a strong resistance level and will start to pull back. We've got bearish divergence on multiple indicators.
I do believe monthly + weekly outlook is bullish but we have an opportunity to take 50+ pips from the market here with a tight stop.
Daily timeframe upper resistance of channel has been touched:
MACD shows bearish divergence:
RSI shows bearish divergence:
I do believe monthly + weekly outlook is bullish but we have an opportunity to take 50+ pips from the market here with a tight stop.
Daily timeframe upper resistance of channel has been touched:
MACD shows bearish divergence:
RSI shows bearish divergence:
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Closed early at +35pips as we touched the EMA50 on 4-hour timeframe and we have bullish divergence on the lower timeframes. A pullback is expected and as we traded a pullback, I did not favour keeping it open any longer for 15pips more.
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Facebook Group: www.facebook.com/groups/aefx786
For my signal & fully automated copy-trading services, get in touch @ t.me/Ajaz_Elahi
Disclaimer: I do not take all of the trades I publish.