2015-07-16_00-18-39gbpusd5min

Since price seem to want to go down on the hourly chart a trader should choose a smaller time frame to pin point the entry.

Smaller time frames serve two purposes. They confirm if the bias of the trade is correct and they provide a trader with a better entry price.

On this example the 5 min chart is chosen where MR1 seems to be in control of the price action.

As traders we want to sell at resistance in direction of a higher time frame.

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