2017.06.16 22:00, M30, EURUSD: a classic reversal candle (down) short – (xpMail Free)
EURUSD on M30 at 2017.06.16 22:00. The chart shows: a classical reversal candle has formed pointing the price action downwards potentially. Check whether it has appeared off a likely strong resistance, e.g. the top bollinger band, the top of a range, or a tested and re-tested resistance level. Consider that the market might retrace the reversal candle up to the 40%, 50% or 60% levels and the possibility therefore of a pending order with a stop above the hig (potential short). Check the strength of the move, whether there has been a turn on strong resistance, a candlestick pattern, or test/restest off the top bollinger band or 20SMA and consider selling.
The chart is attached.