Overview:
Price is currently in a downwards trend and is below all three EMA's so I'm only interested in shorts on this pair for the time being. Price is at an area of support currently however if we can see this level break and price retest it for resistance then there would be some good shorting possibility.
Short Setup:
If price is able to break below this area of support that we have and retest it for resistance then there would be some nice opportunities to short this market. We need to wait for a break and retest before looking for shorts on this pair as currently this is a level of support and we should wait rather then anticipating that it will break.
Long Setup:
If price is able to break above the EMA's and the area of resistance then there could be some opportunities to enter in for long positions on this market but we need to again wait for price to give us a signal to enter long, which would be the break and retest of the resistance level for support once price is above the EMA's.
Disclaimer:
This is my opinion on this asset at the time. This is not financial advise. Don't take this trade blindly, do your own analysis first before entering. Feel free to use this analysis to assist you with yours. Feel free to leave any comments you have. Good luck!!!
Price is currently in a downwards trend and is below all three EMA's so I'm only interested in shorts on this pair for the time being. Price is at an area of support currently however if we can see this level break and price retest it for resistance then there would be some good shorting possibility.
Short Setup:
If price is able to break below this area of support that we have and retest it for resistance then there would be some nice opportunities to short this market. We need to wait for a break and retest before looking for shorts on this pair as currently this is a level of support and we should wait rather then anticipating that it will break.
Long Setup:
If price is able to break above the EMA's and the area of resistance then there could be some opportunities to enter in for long positions on this market but we need to again wait for price to give us a signal to enter long, which would be the break and retest of the resistance level for support once price is above the EMA's.
Disclaimer:
This is my opinion on this asset at the time. This is not financial advise. Don't take this trade blindly, do your own analysis first before entering. Feel free to use this analysis to assist you with yours. Feel free to leave any comments you have. Good luck!!!
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.