This short was done on DEMO as i still not very comfortable opening trades on NFP Fridays. Risk is high trading on NFP fridays and my mentor recommends us who wants to open live trades to reduce their position size. well, anyhow this trade somewhat meets my criteria by tracing a lower high. the other important factor to note here is that price is also near to Weekly Pivot and Daily Pivot R2. Price is also at the psychological resistance of 1.2700. the confluence of resistance here makes new bulls to staysidelines and old bulls to liquidate their positions if the price doesnt create higher high. So judging from these factors a quick short trade at this area might be possible.
the lower high here might signifies that old bulls is getting out of their position thinking that price had reached its peak and the inverted hammers formed confirms panick to sell at high enough prices. therefore s short is initiated here.
result : max potential +30pips
so, hey trading on NFP Fridays is not so bad at all right ? haha... but plz practice with caution!
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