DislikedDid anyone take the following trade?
EURGBP, we have a round top, and we briefly crossed 89 SMA up and then back down. Coupled with resistance line in the same point for like half a month now. My TP at the 8 EMA was just hit. Also an hour ago high impact good news for GBP and medium impact bad news for EUR.
By the rules of this system, was this a correct trade to take?
Thank you for your advice.
ohh, and reading previous posts, Ryan stated that he trades very heavy.... so no need to guess numbers....Ignored
IMO.....Yes that's a good trade according to the rules. Resistance at the 89 and S/R line. We had a tail protruding past the previous candles and separation from the 8ema,(which is what I like to see with trades like these) price will usually go the path of least resistance.
I took 1/2 profit at the 8 then set my SL to BE so the rest was stopped out, but the trade did go according to my plan.
Likely scenario is it continues to the 21, but we'll see.