As the major resistance (indicated as the dark green line) did not broke, a short opportunity has occurred.
scenario 1: The short goes till support level of 1.58436 (second yellow line) and forms a double top and breaks to the next support line which is either the white dotted line or the red line.
scenario 2: it follows the first scenario, but will have a bounce on the support level to the resistance line (first yellow line)
scenario 3: it could go back to the resistance line, which could either break (long opportunity) or reject and form a descending triangle.
sl for this short is above the 1.59 level.
****never trade more than you can afford to lose****
*****These are ideas not calls ! *****
scenario 1: The short goes till support level of 1.58436 (second yellow line) and forms a double top and breaks to the next support line which is either the white dotted line or the red line.
scenario 2: it follows the first scenario, but will have a bounce on the support level to the resistance line (first yellow line)
scenario 3: it could go back to the resistance line, which could either break (long opportunity) or reject and form a descending triangle.
sl for this short is above the 1.59 level.
****never trade more than you can afford to lose****
*****These are ideas not calls ! *****
Trade active
Trade closed: stop reached
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.