Euro / U.S. DollarShort
EURUSD. Short. November week 4, 2024
Will the price break through the D trend confirming line??!!. Which is the confirmation line that will break the Up trend from the October of 2022?
The price is currently being held down at the WR (weekly resistance) + the previous low of 4 hours.
If weekly down trend continues to break below fromThis Level..., will the actual body of the candle on a weekly basis be stay below the D trend confirming line?
It seems that the accumulation (correction period) is too short and it may be bounced off that line. As you can see from the monthly chart, this is a zone where prices have renounced back many times in the past.
For that is in consider to take position, I would like to see the price will correct to the upper WR line , I think it would be an easier place to trade, as there are SR, Fib, daily MA, and downtrend line, longer correction period, that provide support for short entries.
I am posting this for my own records and to share trade ideas with fellow traders.
It will be easier to understand if you link it to the long-term analysis post.
Best.
The price is currently being held down at the WR (weekly resistance) + the previous low of 4 hours.
If weekly down trend continues to break below fromThis Level..., will the actual body of the candle on a weekly basis be stay below the D trend confirming line?
It seems that the accumulation (correction period) is too short and it may be bounced off that line. As you can see from the monthly chart, this is a zone where prices have renounced back many times in the past.
For that is in consider to take position, I would like to see the price will correct to the upper WR line , I think it would be an easier place to trade, as there are SR, Fib, daily MA, and downtrend line, longer correction period, that provide support for short entries.
I am posting this for my own records and to share trade ideas with fellow traders.
It will be easier to understand if you link it to the long-term analysis post.
Best.
Note
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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.