Structure: Downtrend
Moving Average: Downtrend
Trendline: Broken Short Term Downtrend Line, but Daily TF Downtrend Line holds
Pattern: Breakout of 1.08 Triple Top Resistance
Trigger: Large Bullish Candle shoots up
Resistance: 1.0890 - 1.09
Support: 1.08 - 1.0820, 1.0780
Wait for 1H candle retraces to 1.0815 previous top resistance, closed with rejection to go lower is required
Entry area: 1.08 - 1.0815
SL: 1.0775
1st Target: 1.0860
2nd Target: 1.0890
Rmb the Daily Trend is still down, being conservative to half position size or wait for 1.0890 shorting opportunity
Moving Average: Downtrend
Trendline: Broken Short Term Downtrend Line, but Daily TF Downtrend Line holds
Pattern: Breakout of 1.08 Triple Top Resistance
Trigger: Large Bullish Candle shoots up
Resistance: 1.0890 - 1.09
Support: 1.08 - 1.0820, 1.0780
Wait for 1H candle retraces to 1.0815 previous top resistance, closed with rejection to go lower is required
Entry area: 1.08 - 1.0815
SL: 1.0775
1st Target: 1.0860
2nd Target: 1.0890
Rmb the Daily Trend is still down, being conservative to half position size or wait for 1.0890 shorting opportunity
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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.