Possible short. This is my Gold Setup (as usual). Here's why I'm interested...
200-EMA is holding this price down, especially since the price totally got rejected at that level.
Price is in the overbought region of the MFI signaling a possible reversal
counter trend line is strongly broken
Good luck...
Trade active
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This pair is being resilient as the price didn't immediately fall like I would've wanted it to. There's hope tho! The price tested that 200-EMA and the bulls were completely stuffed yet again. I'm still short on this trade looking to TP around 1.18292. Luckily my MFI is showing bearish-divergence which should allow this price to fall as it should.
Comment
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This is now a PLATINUM setup due to the divergence and the double-top that formed at that 200-EMA level.
Trade closed: target reached
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I'm out of this trade. Wow, that was a ride!
My entry: 1.19068 My exit: 1.18397 Pips Gained: 67.1