It is set-up for short position based on the following :
- recent bearish trend
- ABC pattern where C stopped at 0.786 which is bearish sign
- Pair is trading below 200 EMA
- These blue rectangles are showing GAP's from weekly time interval
Things which are suggesting that this trade is risky:
- for the last 4 years this pair is in bullish trend
- on daily chart it bounced from 200 ema
Decide for U'rself if this one is worth the risk. R/R is not decent but it is alright
If U'r MM is on decent level I assume it is worth a risk but if U don;t have solid MM then I would suggest to avoid this trade as it can wipe U'r account out.
- recent bearish trend
- ABC pattern where C stopped at 0.786 which is bearish sign
- Pair is trading below 200 EMA
- These blue rectangles are showing GAP's from weekly time interval
Things which are suggesting that this trade is risky:
- for the last 4 years this pair is in bullish trend
- on daily chart it bounced from 200 ema
Decide for U'rself if this one is worth the risk. R/R is not decent but it is alright
If U'r MM is on decent level I assume it is worth a risk but if U don;t have solid MM then I would suggest to avoid this trade as it can wipe U'r account out.
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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.