On the 1H timeframe, the trend appears bearish as the recent candles show lower highs and lower lows, clearly indicating a downtrend. The price has recently bounced from a resistance level around 3130.00, forming bearish candlestick patterns. The MACD indicates a weakening momentum, as shown by decreasing histogram values, and the ATR suggests volatility is decreasing, which aligns with a potential pullback or continuation of the trend. The entry point is just below the recent low, with a stop-loss placed above the previous high to navigate volatility. The take-profit target aligns with the support level identified previously.
Entry Price: $3110.0000
Stop Loss: $3117.0000
Take Profit: $3090.0000
Risk-Reward Ratio: 2
Confluence: Lower highs and lower lows, bearish candlestick pattern
Indicators: ATR, EMA, MACD
Entry Price: $3110.0000
Stop Loss: $3117.0000
Take Profit: $3090.0000
Risk-Reward Ratio: 2
Confluence: Lower highs and lower lows, bearish candlestick pattern
Indicators: ATR, EMA, MACD
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.