Holding below – Resistance play

Today I had the chance to trade for some time during the afternoon trading session. There was a resistance play I have noticed in EURUSD around 3167 which provided very nice high REWARD low RISK opportunities. Here is the written scenario as I traded it:

3167 holds for two hours and the price is not able to break above = EURUSD is holding precisely to the pip and four times rejected by 3167 -> time to look around for SHORTS:

1) Initiating 1st position at 3161. Setting my SL 3pips above 3167.Setting my alarm to let me know if the bid gets below 3159

2) The alarm went on. I am initiating second position with slightly smaller size. SL now at 3167.

3) Exiting  my first position with a nice 19pips gain. Keep holding position number 2

4) After retracement I am going short into 3rd position with minimum size (0.5). Setting up TP at 3137.

5) TP hit. Third position closed. I am still in with my second position targeting as low as 3118. Will it get there?

Conclusion: Be patient and wait until you get the confirmation that certain level is holding strong. Good signal is for example that the level is holding to the pip, it is touched by long wicks and is not able to close above the level. If you get combination of all these variables and the level is tested several times like that you have high probability trade right in front of you.