Hi Guys!
As we see on this chart, my previous scenario didn't quite play out... But I still think we are topping out or already topped out in these areas around 1310.
I see this scenario for next week. I am in a short position with a tight stop loss now and waiting for the lower gap to close. That area would be my target nr.1 Following targets also seen in this chart.
I also see a potential head & shoulders formation, which will bring us lower next week.
RSI on 4 h still has room to the upside but all other lower time frames are almost in the oversold areas.
If you draw a trend line on RSI this could be also a top out here.
MacD though still showing some upside potential.
Let's see...
Happy and safe trading!
*This is not financial advice, this is only an idea. Do your own research and act on your responsibility.
As we see on this chart, my previous scenario didn't quite play out... But I still think we are topping out or already topped out in these areas around 1310.
I see this scenario for next week. I am in a short position with a tight stop loss now and waiting for the lower gap to close. That area would be my target nr.1 Following targets also seen in this chart.
I also see a potential head & shoulders formation, which will bring us lower next week.
RSI on 4 h still has room to the upside but all other lower time frames are almost in the oversold areas.
If you draw a trend line on RSI this could be also a top out here.
MacD though still showing some upside potential.
Let's see...
Happy and safe trading!
*This is not financial advice, this is only an idea. Do your own research and act on your responsibility.
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.