forex trading strategies
Forex strategies-Forex-trading-strategies that will make you more money trading the Forex market
From the monthly time frame,Gj has been trending downwards in a bearish descending triangle.Price came up to the resistance at 155.921 and showed a bearish reaction confirming a strong monthly resistance.Building confluence on this, price had just made another touch of the downwards trendline on top of this on the monthly Rsi, We are overbought.So I was looking for to short the market.I went to the 4h tf saw price forming a downwards trend breaking structures to the downside at which point it fell from 153.000 to 148.875.I now waited for price to come back to come back to that zone and I put a sell stop at 152.898 with a 50pip stoploss above structure and target was the strong 4hr support around 1:7RR 148.866 putting it around a The trade took over a week to play out patience was key.I exited the trade at the strong 4h support 149.334 at which point I see we are oversold on the 4hr time frame.I will be waiting to see how price behaves and will be looking for more opportunities to sell.
Nice took the same trade .
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