This pair has been on a long-term downtrend since 2000, which means that long-term position traders will generally be looking for large pullbacks as a shorting opportunity.
After an attempt to push prices up, the move has has failed at the neckline, currently forming a double top which may be the start of a swing downwards.
The recent large bearish candle could be a good trigger to take a short position, with a stop above the candle.
After an attempt to push prices up, the move has has failed at the neckline, currently forming a double top which may be the start of a swing downwards.
The recent large bearish candle could be a good trigger to take a short position, with a stop above the candle.
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Free video tutorials: wp.me/P1riws-7uH
Free trading signals: wp.me/P1riws-7E8
FB group: bit.ly/2zfCGXy
Telegram: t.me/synapsetrading
Youtube: bit.ly/2AaUK4C
Twitter: bit.ly/2DLoV6X
Free trading signals: wp.me/P1riws-7E8
FB group: bit.ly/2zfCGXy
Telegram: t.me/synapsetrading
Youtube: bit.ly/2AaUK4C
Twitter: bit.ly/2DLoV6X
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.