Price is up against some heavy resistance @1.63 and we can also see that Bearish momentum is increasing so I guess we will see a further decline in Price in the next few days. Crucial is a break of the trend line on the other hand if there is a break of the counter trend line I will close the trade manually. I hope my on screen analysis is clear but if not feel free to ask me in the comments below.
Note
Although we saw a further incline of Price the Counter Trend is still intact. I’m still patiently waiting on a break of the Trend line up. Hopefully we’ll get closer next week.Trade active
Trade is still active. I hope we will see a further decline this week. In the image below I drew the channel price is currently in.[img]
Note
Price still respects the Counter trend line as drawn on the image above. I hope we will see a break of the Trend line this week.Note
Price finally broke the Trend line and heading towards the Fibonacci 0.5 line. From this point forward I let my trade run until Price breaks the Counter Trend line.Note
Still holding on in profit...Note
Price is back at S/R level around 1.631 still holding on because I think the Counter Down trend is still intact.Note
[img]Note
We are going back down again! Still being patient.
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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.