If tomorrow, at the closing price in May,
the price does not break through 1.09000
and instead closes at 1.08400-1.08500,
then it is likely that the correction has ended and the price will continue its bearish trend.
This is the main reason why, in the update from my last post, I recommended closing buy positions.
The next question is where can we take a sell position?
If a reversal occurs after the price touches the Fibonacci area as I highlighted (red) in the chart, we can take a sell position,
the first target would be the price gap in the candlestick on May 9th.
good luck!!
the price does not break through 1.09000
and instead closes at 1.08400-1.08500,
then it is likely that the correction has ended and the price will continue its bearish trend.
This is the main reason why, in the update from my last post, I recommended closing buy positions.
The next question is where can we take a sell position?
If a reversal occurs after the price touches the Fibonacci area as I highlighted (red) in the chart, we can take a sell position,
the first target would be the price gap in the candlestick on May 9th.
good luck!!
Note
the price reach our POI. waiting for a CHOC, quasimodo for the confirmation to sellNote
if today, the price manage to close below 1.07400-1.07500, then it's a good opportunity to take short on June. Good luck and Gb
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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.