EURUSD 13.07.2016

EURUSD 13.07.2016
13th July 2016 contacttf
"Support and resistance" is common jargon for areas on the chart where price has a difficult time breaking through. Support levels tend to stop price from falling below a specific point and resistance levels act like a price ceiling that price cannot break above.

I am not to keen on trading EURUSD. The pair is too, fiery for my liking. I saw all the chart line up until the 4 hour chart. I took the trade before the move happened.

I saw about 3 bounces at the resistance line which gave me encouragement to enter [1 min]:

"Support and resistance" is common jargon for areas on the chart where price has a difficult time breaking through. Support levels tend to stop price from falling below a specific point and resistance levels act like a price ceiling that price cannot break above.

I almost got stopped out [4th Bounce]. It rallied thereafter, but came back on itself leaving me to exit because of my system [RSI Blue].

bull market nounStock Exchange noun: bull market; plural noun: bull markets      a market in which share prices are rising, encouraging buying.

As I write, pair is trading at 1.10740. Oh well…

 

 

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