ZA Traders Chart


ZA trader posted a chart and comment see below.

“Another text book entry, this one gave an entry earlier today, but buying so high up(into 1.5) is just too risky for me…”

za_original

 

He is correct about not taking this pattern because of the context. it is hitting against a stong support area but also the momentum of the move has evaporated and is unlikely to thrust through resistance.  The context is not right for a trade.

za_trader_mine

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