A bearish wedge has formed after seeing a Double Top formation previously.
Price may continue bouncing off these channels and eventually breaking downwards.
The bearish trend will likely be followed by a retest on the trendline turned resistance before going bearish once again.
A key support level has been found and I'll probably take a trade on a smaller timeframe while being careful when trading around the key support level in yellow.
Thank you for reading and happy trading!
Disclaimer:
I am not a professional trader, financial/investment advisor, broker and/or dealer. The idea above is strictly based on my opinion and should only be used for entertainment/educational purposes only. Do conduct your own due diligence and do not act solely based on any information conveyed in this Trade Idea.
Price may continue bouncing off these channels and eventually breaking downwards.
The bearish trend will likely be followed by a retest on the trendline turned resistance before going bearish once again.
A key support level has been found and I'll probably take a trade on a smaller timeframe while being careful when trading around the key support level in yellow.
Thank you for reading and happy trading!
Disclaimer:
I am not a professional trader, financial/investment advisor, broker and/or dealer. The idea above is strictly based on my opinion and should only be used for entertainment/educational purposes only. Do conduct your own due diligence and do not act solely based on any information conveyed in this Trade Idea.
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.