Price has respected our support/resistance level before ( pointed out by arrows ) orange arrows mark out where price respected this level as support and our purple arrow points out where it is now currently testing this level but as resistance.
Also coming into play at current price is a lovely trendline that has been respected a number of times before ( I'm sure your not that stupid you need that pointing out also ) ;p
From this level we can only see bearish movement happening, so we will wait till market open and probably take this trade on Monday when the markets have settled down.
It is no good rushing in and taking trades the minute markets open as there is normally a market gap from all the things that have taken place over the weekend, price needs time to sort itself out before you jump in.... patience is key to success in trading... have no patience and you WILL FAIL.
Also coming into play at current price is a lovely trendline that has been respected a number of times before ( I'm sure your not that stupid you need that pointing out also ) ;p
From this level we can only see bearish movement happening, so we will wait till market open and probably take this trade on Monday when the markets have settled down.
It is no good rushing in and taking trades the minute markets open as there is normally a market gap from all the things that have taken place over the weekend, price needs time to sort itself out before you jump in.... patience is key to success in trading... have no patience and you WILL FAIL.