What I would like to see in this pair would be a rally back in into the region of the gap. This is a really interesting area because if you look left there is some real resistance/support levels that that this pair has respected recently. With gaps frequently becoming future resistance and support this could be a good case for entry.
1) Trendline breakthrough, potential retest from other side
2) Big Gap that may become new resistance
3) Strong levels in the area of the gap and trendline
4) 50% and 61.8% Levels in this area also
How I would trade this would be to wait till the market reaches this are in the next 8-24 hours and look for RSI divergence and some failures in the area. Sell this with some loose stops around previous highs.
1) Trendline breakthrough, potential retest from other side
2) Big Gap that may become new resistance
3) Strong levels in the area of the gap and trendline
4) 50% and 61.8% Levels in this area also
How I would trade this would be to wait till the market reaches this are in the next 8-24 hours and look for RSI divergence and some failures in the area. Sell this with some loose stops around previous highs.
Note
It tested the lows again but the pullback is strong. Wait to see if there is a nice pinbar or rejection.
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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.