Good Morning Traders!
Hope this finds you well. I am glad to be part of this community. I will be using this thread to document my journal in the trading journey. Today the Euro Looks to be on a sideways range with price having hit resistance at 1.2173, forming a bearish tailed bar (this is not a pin bar in itself). I have taken a short order based on the following factors:
a) Daily Chart bearish tailed bar at resistance level.
b) On my 4-Hour chart, the price has closed below my EMA and p-sar supports sell signal.
The rest is to let the law of probability to work (See chart below):
Hope this finds you well. I am glad to be part of this community. I will be using this thread to document my journal in the trading journey. Today the Euro Looks to be on a sideways range with price having hit resistance at 1.2173, forming a bearish tailed bar (this is not a pin bar in itself). I have taken a short order based on the following factors:
a) Daily Chart bearish tailed bar at resistance level.
b) On my 4-Hour chart, the price has closed below my EMA and p-sar supports sell signal.
The rest is to let the law of probability to work (See chart below):