Based on the chart, it appears that there is a bearish trend forming as evidenced by Lower highs (LHs) and lower lows (HLs). Further analysis using the Relative Strength Index (RSI) indicates that there is currently no divergence present. With this in mind, we recommend taking a long short with a risk/reward ratio of 1:1 by using Fib.
Trade Short
Sell Stop = 89.624
Stop Loss = 90.005
Lot Size = 0.28
Take Profit 1 = 89.253
Take Profit 2 = 88.888
Please note that this is my personal analysis and trade plan, and it is important for you to conduct your own research and risk management strategies before making any trading decisions.
Trade Short
Sell Stop = 89.624
Stop Loss = 90.005
Lot Size = 0.28
Take Profit 1 = 89.253
Take Profit 2 = 88.888
Please note that this is my personal analysis and trade plan, and it is important for you to conduct your own research and risk management strategies before making any trading decisions.
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.
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.