1. THE RED LINE: which is an important monthly downtrend has been touched for the 3rd time. so we should expect that the price gives us a downtrend.
2. THE GREEN LINES: these are the two lines that make up our weekly channel. as it is clear on the chart, the price made a fake-out of it and get back to it. this is another strong short signal.
3. THE PURPUL LINE: is a a strong daily resistance line which the price recently touched it after a fake out.
4. THE AQUA LINE: this line is the 2nd important support daily line which has been broken and now, has changed its function to a strong resistance.
5. THE MOST IMPORTANT THING: there is a nice intersection between the aqua and the purple line, both as resistance, in the circle zone.
>>>> the price can reach to the green line again and even the red line. however, the risk to reward ratio seems still good for a short.
get the confirmation from H4 tf.
2. THE GREEN LINES: these are the two lines that make up our weekly channel. as it is clear on the chart, the price made a fake-out of it and get back to it. this is another strong short signal.
3. THE PURPUL LINE: is a a strong daily resistance line which the price recently touched it after a fake out.
4. THE AQUA LINE: this line is the 2nd important support daily line which has been broken and now, has changed its function to a strong resistance.
5. THE MOST IMPORTANT THING: there is a nice intersection between the aqua and the purple line, both as resistance, in the circle zone.
>>>> the price can reach to the green line again and even the red line. however, the risk to reward ratio seems still good for a short.
get the confirmation from H4 tf.
Note
my bad. the investment strategy as it is clear on the chart is SHORT. tradingview doesn't give me chance to change it.Good luck
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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.