DislikedHi Snr Dinero,
I also sold at 1.4265. 50% Fib level, strong resistance zone (daily pivot point) and second test of the mornings high as you said. Lets see how this works out. Happy trading.Ignored
If you look at the 4H charts and put your Support line on and your Resistance line on, you will see that you are in no-mans land. You are a long way from the Resisistance line and a long way from the Support line. This price of 1.4265 is a very low probability trade...very close to 50/50.
You might get lucky and have guessed the right way but you have no strong technical positions to back-stop you if you are wrong.
Also, because you are in the middle of the Support and Resistance lines, the market is going to fluctuate between the two and probably take out your stops. (The market may go in your direction ..but not far enough for you to be happy to close it for a small profit.....Then it will go against you and your Stop Loss will be smaller than your Target profit..and you will be Stopped out...even after you have been in a profit situation).
Just trying to help
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