Update:
was actually looking for a long yesterday but price has continued to show a bearish bias, making lower lows and lower highs. we also have seen a break down of crucial support (purple and grey line).
seeing this push to the downside my next move would be to wait for a bearish retest and look for a short down to any of my lower targets, we have seen a couple wicks below this level before but the grey line has been a solid level of support with the purple line being the bullish scenario. testing this support is showing its weakness so I don't really expect price to break back up at leats until a retracement of some sort is going to take place.
I would look at the smaller timeframes for a short opp and wait for a clear bounce because we are still in an important level and price could break back into this formation leaving a lot of room to the upside for a recovery.
was actually looking for a long yesterday but price has continued to show a bearish bias, making lower lows and lower highs. we also have seen a break down of crucial support (purple and grey line).
seeing this push to the downside my next move would be to wait for a bearish retest and look for a short down to any of my lower targets, we have seen a couple wicks below this level before but the grey line has been a solid level of support with the purple line being the bullish scenario. testing this support is showing its weakness so I don't really expect price to break back up at leats until a retracement of some sort is going to take place.
I would look at the smaller timeframes for a short opp and wait for a clear bounce because we are still in an important level and price could break back into this formation leaving a lot of room to the upside for a recovery.
Related publications
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.
Related publications
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.