We hit a resistance level from 2 Sep around 1.159 area and now rejected off strongly with a bearish engulfing.
Daily pivot is way down there from price, theoretically it signifies bullish bias, so I am not taking the Short, I will take Longs only if daily pivot is below price.
Even if the Short is attractive, there is not enough room for TP, it will reach daily pivot before hitting TP, risking rejection and shy away from my TP.
If price dip further below and stopped and start reversing from daily pivot, it is even better for a Long.
I am waiting price to close above 1.15845, which also means erasing that big bearish engulfing candle, for me to enter Long, SL is recent low.
If not, another no trade day I guess? Discipline is key, i do not need to trade every day.
Daily pivot is way down there from price, theoretically it signifies bullish bias, so I am not taking the Short, I will take Longs only if daily pivot is below price.
Even if the Short is attractive, there is not enough room for TP, it will reach daily pivot before hitting TP, risking rejection and shy away from my TP.
If price dip further below and stopped and start reversing from daily pivot, it is even better for a Long.
I am waiting price to close above 1.15845, which also means erasing that big bearish engulfing candle, for me to enter Long, SL is recent low.
If not, another no trade day I guess? Discipline is key, i do not need to trade every day.
Attached Image (click to enlarge)
https://www.myfxbook.com/members/NGplus/freedom-you-deserve/11268620
Freedom you deserve. All Time Return:
50.4%
3
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