Short Retest?
Updated
Looks like broken structure.
Lack of buyers at this level tells me selling would be a good idea.
The next demand level is rather far so the possibility of letting profits run longer seem very real. I've put a hypothetical trade should it occur. Update with actual trade if taken.
Lack of buyers at this level tells me selling would be a good idea.
The next demand level is rather far so the possibility of letting profits run longer seem very real. I've put a hypothetical trade should it occur. Update with actual trade if taken.
Trade active
Now I'm worried because I didn't respect one of my rules going into this trade. Lack of a big drop candle could signal indecision at this price.Trade closed manually
Closed at a loss.Looking back on this trade. I jumped the gun too fast. The zone was definitely incorrect because the demand has already been filled which left a void. Classic trap..
Note
Needless to say I could be wrong and price could do a complete 180 to fall below 1.3000 but seeing how price never really pushed down fast enough tells me it won't push down much more.Oh and have a happy labor day weekend!
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