Be Strong Resistance in Bearish Trend
Updated
I'm back to trade
now we see the candlestick shows a bearish movement and if we see a price movement that tries to pass 1950 - 1955 and is rejected twice, then there is a support area that has been touched three times at 1810.
and since this post was made, the candlestick movement is trying to return to the 1950-1955 price, but this prediction will be a reversal because the RSI indicator that I use (more precisely, the Ultimate RSI indicator by Lux Algo) is still in the Oversold realm.
This has been confirmed as a Resistance Line if we look at the movement on Oct 23 and the price falls until it finds the support point as I mentioned before.
So, what do you guys think? Considering that the Fed is still maintaining and even increasing its interest rates, my analysis may still be considered reasonable (or perhaps not at all)
now we see the candlestick shows a bearish movement and if we see a price movement that tries to pass 1950 - 1955 and is rejected twice, then there is a support area that has been touched three times at 1810.
and since this post was made, the candlestick movement is trying to return to the 1950-1955 price, but this prediction will be a reversal because the RSI indicator that I use (more precisely, the Ultimate RSI indicator by Lux Algo) is still in the Oversold realm.
This has been confirmed as a Resistance Line if we look at the movement on Oct 23 and the price falls until it finds the support point as I mentioned before.
So, what do you guys think? Considering that the Fed is still maintaining and even increasing its interest rates, my analysis may still be considered reasonable (or perhaps not at all)
Trade active
Yes now we're open position in short of course right nowPivot : 1950
TP1 : 1905
TP2 : 1886
Note
sorry for my miss pivot, but yeah the fall is start
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