A little late in publishing this one but is still at a decent entry level, already had two amazing trades down to the 0.70 resistance now looking to get another one!
My logic:
Price capped by strong daily downtrend.
Price rejected at H1 trendline.
At the time it rejected stoch was overbrought.
My trading plan:
Am already in this position at the rejection of the H1 trendline. My entry: 0.71225. My stop loss is sitting comfortably above the trend line at 0.71350 and my target is just above the resistance at 0.70100.
My logic:
Price capped by strong daily downtrend.
Price rejected at H1 trendline.
At the time it rejected stoch was overbrought.
My trading plan:
Am already in this position at the rejection of the H1 trendline. My entry: 0.71225. My stop loss is sitting comfortably above the trend line at 0.71350 and my target is just above the resistance at 0.70100.