Technical Analysis:
Higher TFs: Given the recent week's top rejection and inside bearish close, it appears that the bulls are running out of momentum. The last day's price action was a bearish continuation candlestick (lower low and lower close), indicating that the bears are in control.
The plan is to look for a short position on the lower timeframe by identifying a key horizontal level for a pullback.
4-Hourly Chart: My potential short trade is around 0.9149/53.
In case the price doesn't reverse from this zone, the next zone to go short would be:
Higher TFs: Given the recent week's top rejection and inside bearish close, it appears that the bulls are running out of momentum. The last day's price action was a bearish continuation candlestick (lower low and lower close), indicating that the bears are in control.
The plan is to look for a short position on the lower timeframe by identifying a key horizontal level for a pullback.
4-Hourly Chart: My potential short trade is around 0.9149/53.
- Sell Limit Entry: 0.9149/53
- Stop Loss: Above 0.9162
- Target: 0.9111
In case the price doesn't reverse from this zone, the next zone to go short would be:
- Sell Limit Entry: 0.9173/76
- Stop Loss: Above 0.9190
- Target(s): 0.9149/53, 0.9111
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.