1. Trend & Market Structure:
The chart shows an uptrend followed by a potential reversal.
The price has reached a resistance zone, marked at a higher level, where it is struggling to break above.
A support zone is marked at a lower level, indicating a possible target if the price moves downward.
2. Trade Setup & Analysis:
The chart suggests a bearish move (price drop) after reaching resistance.
A possible sell trade is being analyzed, with a target level marked lower.
The trendline indicates a potential breakdown, confirming a bearish sentiment.
3. Technical Indicators:
There are multiple buy (B) and sell (S) signals on the chart.
The trendline break suggests that the market might continue downward.
Fibonacci retracement levels or channel patterns seem to be used for analysis.
4. Key Levels:
Resistance Zone: The price has rejected from this level.
Entry Area (Sell): Around the recent highs.
Target Zone: Marked below, where the price is expected to move if the downtrend continues.
Trade active
90 pips runing in profit
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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.