(-120) EURSGD D1 an uncommon bullish day that resulted in a long into resistance.

After monday’s gap down which ended up as a bullish day close, I was convinced that price would be heading up after a major 1234 up had been completed.

I was convinced to long.

week27 EURSGD h4 wr36 6ullflag 300615

However the nature of this type of close was awkward, and it actually closed right at the top of line chart resistance.

week27 EURSGD D1 long into Resistance 040715

On hindsight, it would have been good to avoid this trade, but who knows? Anyway the h1/h4 did not really show any signs of turning, so that was the 2nd clue that it was resisted.

I took a loss and it set week27 back.


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