I took a short trade on EURUSD at 1.1868 levels with a SL at 1.1895 and TP at 1.1820. After going above 1.1900 for a brief period, the prices were in a range for a long time and then fell down closer to 1.1850 today and a subsequent rise back towards 1.1880. I feel it will not break this resistance and the only way is down. If the down trend breaches 1.1848, it could travel a lot down wards. I feel it is better to take profit at 1.1820 and initiate a new trade if trends confirm to take another trade.
I am not yet successful in my price action trades. figuring out how to get it right. My focus is to get my trading system right and stick with one system.
I am not yet successful in my price action trades. figuring out how to get it right. My focus is to get my trading system right and stick with one system.