Reasons:
1. Prior consolidation before strong down move, shows hidden selling activities at this region – sellers will be likely to defend their positions at this level
2. Overall downtrend – will only be keen to take short positions to go with the trend
3. Prior support turned resistance level from previous rejection area
Our Trade Setup will be:
EP: 110.26
SL: 110.46
TP: 110.06
Best Regards,
Nour Capital - Tracking Smart Money Flow
Disclaimer:
The material (whether or not it states any opinions) is for educational purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by Nour Capital or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
1. Prior consolidation before strong down move, shows hidden selling activities at this region – sellers will be likely to defend their positions at this level
2. Overall downtrend – will only be keen to take short positions to go with the trend
3. Prior support turned resistance level from previous rejection area
Our Trade Setup will be:
EP: 110.26
SL: 110.46
TP: 110.06
Best Regards,
Nour Capital - Tracking Smart Money Flow
Disclaimer:
The material (whether or not it states any opinions) is for educational purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by Nour Capital or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.