There was negative divergence coming into the London session this morning. The signals weren't very clear so it would have been okay to stay out of the markets. There was however an opportunity to go short around 7:30am when price closed below the 1.4806 support line. The formation of inverted hammers on the 1hour charts around that time gave a bit of credibility to the Short trade.
Those who took that divergence trade would have entered the market around 1.4800 with a target of getting to the 1.4761 mark. Conservative traders would consider taking a portion of their profits about halfway into the move. The target was eventually hit at about 3:00pm.
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment