Daily:
Broke uptrend support channel (red line)
Currently re-testing the support turn resistance channel.
Price has been rejected at horizontal resistance at 0.7400 area
Pair made a lower low but failed to make a higher high
4H:
Triple top pattern and a bearish engulfing candle at 0.7416
Hammer candle stick at resistance may not be considered a bullish signal
Position: Long
Entry: 0.74
Stop Loss: 0.75
Target: 0.74
Risk:Reward = 1:2
Broke uptrend support channel (red line)
Currently re-testing the support turn resistance channel.
Price has been rejected at horizontal resistance at 0.7400 area
Pair made a lower low but failed to make a higher high
4H:
Triple top pattern and a bearish engulfing candle at 0.7416
Hammer candle stick at resistance may not be considered a bullish signal
Position: Long
Entry: 0.74
Stop Loss: 0.75
Target: 0.74
Risk:Reward = 1:2
Trade active:
Edited***
Position: Short
Entry: 0.74
Stop Loss: 0.75
Target: 0.74
Risk:Reward = 1:2
Position: Short
Entry: 0.74
Stop Loss: 0.75
Target: 0.74
Risk:Reward = 1:2
Trade closed: target reached