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The TradingView Digest - April 8thHey everyone! Welcome back to the TradingView Weekly Digest. In today’s edition, we’re highlighting the top ideas from our community, which includes a write-up on Tesla, an informative post about Keltner channels and Bollinger bands, a hot script on trailing stop management, and all the latest headlines, earnings, and economic events. We hope you find this week's edition exciting and engaging. Let's dive in! 😀 💡 Tesla Stock Down 30% This Year. What Happened to the EV King? - by TradingView The electric-car maker is in dire need of charging after losing more than $260 billion this year and turning Elon Musk into the biggest loser among the world’s wealthiest. Tesla stepped into 2024 as the world’s largest EV seller with a valuation of more than $780 billion. None of that is true today. 💡 Keltner Channels vs Bollinger Bands - by FXOpen If you're a trader, you likely know that indicators are valuable tools for identifying trends and determining entry and exit points. Two popular indicators are Keltner Channels and Bollinger Bands. Both help measure volatility, but which one is better? In this article, we'll delve into the differences between the two, explain their components, and discuss which one is best. 🔝 Top Stories 📰 U.S. March Nonfarm Payrolls +303K; Unemployment Rate 3.8% 📰 Johnson & Johnson to Buy Shockwave Medical in $13.1 Billion Deal 📰 Gold Shines Above $2,300, Ends Another Week At Record High 📰 Solar Eclipse On April 8 Could Give Whopping $1.5 Billion Boost To Businesses 📰 New users flock to Ethereum while long-term holders are less active than ever 💵 Earnings highlights from the previous week: 💲 Levi Strauss (LEVI) Q1 Earnings and Revenues Surpass Estimates 💲 BlackBerry reports surprise profit on demand for cybersecurity services 💲 Conagra (CAG) Q3 Earnings Beat, Organic Sales Decline Y/Y 💲 Lamb Weston (LW) Q3 Earnings Lag Estimates, Guidance Lowered 💲 Greenbrier 2Q Revenue Declines But Beats Wall Street's Forecast 💡 Nvidia - Entering a Bear Phase! - by basictradingtv For more than 6 years, Nvidia stock has been trading in a long-term rising channel formation. The last retest of support occurred in 2021, followed by a +650% rally to the upside. As of now, Nvidia stock is retesting the upper resistance of the channel, and we might see a short-term correction towards the downside to retest the previous all-time high. 💡 Don't Get Duped by the RSI - by ParabolicP The Relative Strength Index (RSI) is a common technical analysis tool used by traders to gauge whether an asset is overbought (priced too high) or oversold (priced too low). It analyzes price movements over a specific period (often 14 days) and displays a score between 0 and 100. Generally, an RSI above 70 suggests an overbought condition, while an RSI below 30 suggests an oversold condition. 📆 Economic Calendar ⚡️ April 10th (United States) — Core Inflation Rate YoY ⚡️ April 10th (United States) — Inflation Rate YoY ⚡️ April 10th (United States) — FOMC Minutes ⚡️ April 12th (United States) — Michigan Consumer Sentiment Prel ⚡️ April 16th (China) — GDP Growth Rate YoY 🔥 What's New? ✅ New chart type — Volume candles 🌟 Script of the Week 📜 Trailing Management - by Zeiierman This tool provides an automated and visual approach to trailing stop management, aiding in systematic decision-making for trade entries and exits based on risk-reward metrics. 💭 Our Weekly Thought: “The trend is your friend.” We hope you found this helpful. Please share your feedback, remarks, or suggestions with us in the comments below. 💖 TradingView Team 📣 Want to be among the first to know all the news? Give us a follow !
Editors' picks
COINBASE:BTCUSD
by TradingView
7
The TradingView Digest - April 3rdHey there! Welcome back to the TradingView Weekly Digest. We are thrilled to announce the successful conclusion of our first-ever paper trading competition - The Leap ! With immense joy, we share that over 90,000 traders enthusiastically participated, executing a staggering 2,700,000 trades and securing an impressive $119 million in profits. Heartiest congratulations to all the winners, and our sincere gratitude to every participant for their overwhelming love and support. In this edition, we’re excited to spotlight the top posts and ideas from our community. This includes an informative post on using stop-loss orders , a write-up on trading symmetrical triangle patterns , a hot script on volumes , and all the latest headlines , earnings , and economic events . We hope you find this week's edition exciting and engaging. And don't forget to participate in our Bitcoin halving contest for a chance to win our exclusive T-shirt. Without further ado, let's dive right in! 😀 💡 How to Use Stop Loss Orders in Trading? - by TradingView In trading, reducing risks is oftentimes all that matters to achieving success. One of the essential tools to protect your investments from steep or unexpected losses is the stop loss order. Understanding how to use stop loss orders can unlock your path to profitability by allowing you to balance your risk and reward ratio. 💡 A Comprehensive Guide to Fibonacci Retracements - by XForceGlobal Fibonacci Retracements are a set of ratios defined by the mathematically important Fibonacci sequence. This allows traders to identify key levels of support and resistance for price action. The Fibonacci retracement tool, although widely used by many traders, is almost always not correctly used by new traders. 💡 Bitcoin Halving Contest: Time’s Ticking, But When’s It Kicking? - by TradingView Buckle up, crypto enthusiasts! The Bitcoin Halving is on the horizon, and the countdown has begun. But here’s the twist - every Bitcoin clock out there is telling a different time for when block 840,000 will hit the scene. It’s like they’re all watching different episodes of the same thrilling show. 🍿 🔝 Top Stories 📰 Japan Manufacturers Sentiment Deteriorated for First Time in Four Quarters 📰 AMC Shares Drop 14% to Hover Near Record Lows After Filing to Sell $250M of Stock 📰 Reddit Stock Can’t Get Off the Volatility Train After Another Double-Digit Drop 📰 Bitcoin Halving Countdown: BTC Skyrockets to $71,000 Amidst Market Anticipation 📰 SEC May Delay Ethereum ETF Until December: Bitwise 💵 Earnings highlights from the previous week: 💲 McCormick (MKC) Q1 Earnings & Sales Top Estimates, Grow Y/Y 💲 GameStop Q4 Earnings Highlights: Retail Favorite Stock Plunges After Revenue, EPS Miss 💲 Compared to Estimates, Carnival (CCL) Q1 Earnings: A Look at Key Metrics 💲 Jefferies Financial Group Fiscal Q1 Earnings, Revenue Rise; Dividend Maintained 💲 Walgreens Sees Steep Loss After Major Write-Down of Clinic Operator VillageMD 💡 How To Trade A Symmetrical Triangle Break-Out - by TVM_MENA A symmetrical triangle is a geometric formation found in technical analysis, often appearing during periods of market consolidation. It's characterized by converging trendlines, typically drawn by connecting a series of lower highs and higher lows. This pattern reflects a balance between buyers and sellers, signaling indecision in the market regarding the future price direction. 💡 Bitcoin Heading Below 20K is A Good Thing! - by WicktatorFX/ This one is a bit of a hack but follows on from my video on how to set 'Stop Losses' on TradingView for Connected Brokers. To set a trailing stop loss, you need to open your broker account, place the trade there, and it will then be reflected on the TradingView interface. 📆 Economic Calendar ⚡️ April 3rd (United States) — Fed Chair Powell Speech ⚡️ April 5th (Canada) — Unemployment Rate ⚡️ April 5th (United States) — Non Farm Payrolls ⚡️ April 5th (United States) — Unemployment Rate 🔥 What's New ✅ New launch: predict market activity with unerring accuracy ✅ Scan your watchlists in Stock, ETF, and Crypto Coins screeners 🌟 Script of the Week 📜 Periodic Activity Tracker - by LuxAlgo This tool visualizes cumulative buy and sell volume for user-defined periods, offering insights into volume dynamics with customizable options. 💭 Our Weekly Thought: “ Weak traders focus on results - Strong traders focus on process. ” We hope you found this helpful. Please share your feedback, remarks, or suggestions with us in the comments below. 💖 TradingView Team 📣 Want to be among the first to know all the news? Give us a follow!
Editors' picks
COINBASE:BTCUSD
by TradingView
4
The TradingView Digest - March 25thHey everyone! Welcome back to the TradingView Weekly Digest. In today’s edition, we’re highlighting the top ideas from our community, which includes a video tutorial on customizing TradingView charts, an informative post about Reddit, a hot script on price gaps, and all the latest headlines, earnings, and economic events. We hope you find this week's edition exciting and engaging. Let's dive in! 😀 💡🎥 TradingView Masterclass: Create your perfect chart - by TradingView Dive into this video for a hands-on masterclass on TradingView's chart settings, created just for you! From the general themes to the smallest details, you'll learn how to fully customize your charts to match your unique trading style and preferences. Discover how to access and adjust every aspect of your charts, making sure they look, present data, and integrate trading features exactly how you want. 💡 Reddit Braves Wall Street with 48% Pop in Debut. When Growth? - by TradingView Reddit stepped into the public-market space this week with a flashy and splashy IPO in New York that chalked up a 48% gain on its debut day. The listing was met with lots of cheer from Wall Street as it was the biggest one for a social media company since Pinterest hit exchanges in 2019. 🔝 Top Stories 📰 Federal Reserve Holds Interest Rates Steady but Projects Three Cuts This Year 📰 Sterling Tumbles 2% to $1.2580 After Bank of England Keeps Rates Steady 📰 Apple Stock Wipes Out Over $100 Billion in Value After US Files iPhone Monopoly Lawsuit 📰 Reddit Stock Pops 38% Out of the Gate to Trade at $47 a Share at $9 Billion Valuation 📰 Bitcoin Powers Up by 12% to $68K After Jay Powell Upholds Rate-Cut Timeline 💵 Earnings highlights from the previous week: 💲 PDD Holdings soars on Q4 results beat 💲 Micron Posts Surprise 2Q Profit as Recovery Continues 💲 Accenture Q2 Earnings Surpass Estimates, Revenues Miss 💲 NIKE Q3 Earnings Surpass Estimates, Revenues Up Y/Y 💲 FedEx Posts Strong Quarterly Results 💡 Options Blueprint Series: Strangles vs. Straddles - by traddictiv Among the plethora of strategies, the Strangle holds a unique position, offering flexibility in unclear market conditions without the upfront costs associated with more conventional approaches like the Straddle. This article delves into the intricacies of the Strangle strategy, emphasizing its application in trading Gold Futures. 💡🎥 How to Set a Trailing Stop Loss on TradingView - by zAngus This one is a bit of a hack but follows on from my video on how to set 'Stop Losses' on TradingView for Connected Brokers. To set a trailing stop loss, you need to open your broker account, place the trade there, and it will then be reflected on the TradingView interface. 📆 Economic Calendar ⚡️ March 26th (United States) — Durable Goods Orders MoM ⚡️ March 28th (United Kingdom) — GDP Growth Rate YoY Final (Q4) ⚡️ March 28th (United States) — GDP Growth Rate QoQ Final (Q4) ⚡️ March 29th (United States) — Core PCE Price Index YoY ⚡️ March 29th (United States) — Fed Chair Powell Speech ⚡️ March 31st (China) — NBS Manufacturing PMI 🔥 What's New Just a few minor tweaks last week, but fear not ... We continue working hard 👷🏽 to make the platform even better. 🌟 Script of the Week 📜 Gaps Profile - by vnhilton The script displays remaining unclosed gaps on the chart, helping you recognize shifts in market sentiment and pinpoint potential supply/demand zones. 💭 Our Weekly Thought: “ Sometimes the best trades are the ones you did not take. ” We hope you found this helpful. Please share your feedback, remarks, or suggestions with us in the comments below. 💖, TradingView Team 📣 Want to be among the first to know all the news? Give us a follow!
COINBASE:BTCUSD
by TradingView
2
The TradingView Digest - March 19thHello everyone! Welcome back to the TradingView Weekly Digest. We’re thrilled to bring you even more reasons to stay connected with the TradingView account. As part of our commitment to constantly evolve and improve our offerings for you, our dedicated users, this edition includes a special “What’s New “ section. In it, we explore the latest enhancements and additions to our platform, ensuring you're always up-to-date with our most recent advancements. In today’s roundup, we’re excited to showcase the top posts from our vibrant community. Highlights include an insightful article on the history of Bitcoin, a trading strategy based on the Fibonacci tool, a new script for visualizing your equity curve, along with all the latest headlines, earnings reports, and economic events. We hope you find this week's edition informative and engaging. Let's dive in! 😀 💡 History of Bitcoin: The Underdog That Rewired Finance - by TradingView Bitcoin, a phenomenon that emerged at the onset of the 2008 financial crisis, has changed the way we think about money. To celebrate the token’s $73,000 milestone, we trace its origin story and look ahead into the future. To infinity… and beyond? 💡 Fibonacci Trading Strategy For Beginners - by VasilyTrader I am excited to reveal a powerful Fibonacci trading strategy that I learned many years ago. It integrates structural analysis, Fibonacci retracement and extension levels, and candlestick analysis. When applied correctly, this strategy has the potential to yield a winning rate of over 60%. 📰 Top Stories Adobe Stock Crashes 12% on Weak Guidance, Net Income Slashed in Half to $620M China's Central Bank Keeps Key Policy Rates Steady SOL, BOME Trend on Social Media as Ether, Bitcoin Lag Nissan, Honda Shares Rise Sharply After EV Tie-Up Plan Apple in talks to let Google's Gemini power iPhone AI features, Bloomberg News says 💵 Earnings highlights from the previous week: Dollar Tree's Fiscal Q4 Adjusted Earnings, Revenue Rise Williams-Sonoma's (WSM) Stock Up on Q4 Earnings & Revenue Beat UiPath (PATH) Q4 Earnings and Revenues Beat Estimates KT reports record-high earnings in 2023 MorphoSys AG reports results for the quarter ended in December 💡 When will Bitcoin Reach the Cycle Top - by FieryTrading In this analysis, I am providing an educated estimation for the timeframe within which Bitcoin may reach its peak during this cycle. You can observe Bitcoin's price movements spanning the past 13 years depicted on a 2-week chart. Essentially, it typically takes between 17 to 24 bars (equivalent to 34 to 48 weeks) before Bitcoin reaches its cycle peak, with an average duration of 20 bars. 💡 Help Shape the Future of TradingView Content - by TradingView Hello, TradingView community! As we continue to grow and evolve, our commitment to providing value to our users remains paramount. At TradingView, we understand that our users are at the heart of everything we do. This is why we constantly strive to offer content that enriches your trading experience, empowers your decisions, and nurtures your growth as a trader. 📆 Economic Calendar ⚡️ 19th March (Japan) — BoJ Interest Rate Decision ⚡️ 19th March (Canada) — Inflation Rate YoY ⚡️ 20th March (United States) — Fed Interest Rate Decision ⚡️ 20th March (United States) — FOMC Economic Projections ⚡️ 21th March (United Kingdom) — BoE Interest Rate Decision ⚡️ 22nd March (Japan) — Inflation Rate YoY 🔥 What's New? ✅ JFX forex data — now accessible on TradingView ✅ Enhancing DeFi trading: TradingView partners with QuickSwap ✅ Improved data of BIST futures: make use of settlement prices, back-adjustment, and Open interest ✅ Chart view in Stock, ETF, and Crypto coins screeners 🌟 Script of the Week 📜 Risk Management Chart - by NoveltyTrade This script simulates multiple equity curves based on user-defined win-loss and risk-reward parameters, allowing visualization and analysis of risk management strategies. 💭 Our Weekly Thought: “ Plan the trade, see the trade, feel the trade. ” We hope you found this helpful. Please share your feedback, thoughts, or suggestions with us in the comments below. With 💖, TradingView Team 📣 Want to be among the first to know all the news? Give us a follow!
Editors' picks
SP:SPX
by TradingView
14
The TradingView Digest - March 12thHey everyone! Welcome back to the TradingView Weekly Digest. In today’s edition, we’re highlighting the top posts from our community, which includes a video tutorial on our newly revamped screener tool, an informative post about portfolio diversification, a hot script on tick data, and all the latest headlines, earnings, and economic events. 💡 Diversification: What It Is, Why It Matters & How to Do It - by TradingView Portfolio diversification is the strategy of spreading your money across diverse investments in order to mitigate risk, hedge and balance your exposure in pursuit of uncorrelated returns. While it may sound complex at first, portfolio diversification could be your greatest strength when you set out to trade and invest in the financial markets. 💡🎥 TradingView Screener 2.0 - by zAngus The TradingView Screener was what initially led me to use TradingView. It allows me to quickly and easily filter thousands of stocks down to just a handful that meet my criteria. No matter your preferred trading style - whether it's based on technicals, fundamentals, indicators, price action, RSI, MACD, volume, etc. - the TradingView Screener can quickly help you narrow down any stocks that meet your criteria. 📰 Top Stories U.S. Feb Nonfarm Payrolls +275K; Unemployment Rate 3.9% SMCI: Super Micro Stock Jumps 3% on Upgrade. Here’s Why Shares are Up 10X in One Year. XAU/USD: Gold Shines Bright to Record High of $2,160 as Central Banks Stack Up BTC/USD: Bitcoin Cools Off After Knocking Out Fresh All-Time High Above $69,000, Smashing 2021 Record CPI, Rates and Other Key Things to Watch This Week 💵 Earnings highlights from the previous week: America's Car-Mart (CRMT) Reports Q3 Loss, Misses Revenue Estimates Silvercrest Asset Management Group Inc. Reports Q4 and Year-End 2023 Results Amplify Energy (AMPY) Q4 Earnings and Revenues Surpass Estimates Algonquin Powers Up In Q4 But Skips Guidance On Uncertainty Over Renewables Sale Paysafe Shares Slip 14% on Surprise 4Q Loss 💡 A Simplified Model for Bubbles - by holeyprofit Understanding the phases of a bubble and crash is not as grandiose a claim as it's made out to be. My idea that bubbles and pops can be understood is based on my opinion that various TA methods do a good job of explaining trend development. When major bubbles and pops are viewed in hindsight, they exhibit obvious fingerprints of bull/bear trend development. 💡 Bitcoin is Still Behaving like a Risk Asset - by Tradersweekly After reaching a new all-time high last week, Bitcoin underwent a mini flash crash, erasing more than 14% within a few hours but soon recovered. The number of Bitcoin addresses with balances exceeding 1,000 BTC slightly increased, while those with balances exceeding 100 BTC dropped slightly. 🌟 Script of the Week 📜 Order Chain - by Kioseff Trading This indicator utilizes live tick data to visualize volume dynamics in real-time. 💭 Our Weekly Thought: “ The trend is your friend. ” We hope you found this helpful. Please share your feedback, comments, or suggestions with us in the comments below. TradingView Team 📣 Want to be among the first to know all the news? Give us a follow!
Editors' picks
TVC:GOLD
by TradingView
3
Resistance Analysis in Bottoming Stocks: IDXX, OKTAResistance Analysis in Bottoming Stocks: Looking Ahead to Q1 2023 Earnings Stocks that are slowly crawling their way out of the correction of 2022 are now moving up to challenge the more difficult resistance levels from the intermediate-term downtrend. These resistance levels are sideways trends that developed during the downtrend of 2022 to the bottom low. Most stocks that are showing improvement quarter over quarter have completed bottoms, such as IDXX. Those that do not, such as OKTA, are often stocks that had anomalies in their revenue/earnings growth during the pandemic due to stimulus checks artificially inflating their sales to the point there was no possible way that the company could maintain such high revenues that were way off the normal growth levels annually. IDXX has been trending up out of a bottom with sideways trends 2 times now. This is best seen on a weekly or 4 day chart. The stock has not reached the next strong resistance level yet but is probably going there during the next month as it reports in early May. If it continues sideways during the month of April, then the report is not likely to show a significant improvement over the financial data from last quarter. The All-Time High will be Very Strong Resistance as it occurred at the peak of the pandemic's speculative gains. The Moderate Resistance is one tier down from the top's all-time high. It can be more easily overcome as it is not a longer sideways trend and there was no sideways trend at that level on the way up to the top in the final months of 2021. The Strong Resistance lowest red line is stronger because of the sideways trend from 2020 - 2021 and the sideways trend during the 2022 downtrend. OKTA has an entirely different trend moving upward. The stock has not completed the bottom and first resistance level to complete the bottom is Very Strong Resistance. The next tier up is Moderate Resistance. The next Very Strong Resistance is the rounding top highs of 2021.
NASDAQ:IDXX
by MarthaStokesCMT-TechniTrader
Long Regional Banks $FISI $WSBC $FLIC $SSB (Cheap and Oversold)Hey traders, I'm buying 4 regional bank stocks today as I think they're cheap and so do the company insiders who have been buying shares like many regional bank insiders have been doing these past 2 months. The technicals have also aligned for a good entry point here imo as we're currently at the bottom of the range and oversold versus the market and financial sector in general, I'm trading off the weekly charts looking for mean reversion so these trades will need approximately 1-3 months to play out but stand to make potential 30-50% gains with less downside imo. Follow along as i'll update these trades. Jared. *Disclaimer: This is not financial advice, I'm just sharing my own trades, opinions and analysis, please trade at your own risk.
SLong
by Click-Capital
A Weaker EURO Could Send FIBER Towards 1.09000 Level !Have a look at the main weekly TF chart which shows the price of EURUSD confined in a long term held and respected wedge ! The blue horizontal lines are the nearby support and resistance levels taken from the monthly TF . Several months ago this pair formed a bearish H & S pattern on the weekly chart which was broken as the price started to accelerate downwards partly due the FED being hawkish as they raised the Interest rates this making the USD more stronger against the basket of major currencies. When the price broke the neckline of the pattern where also the main support now turned resistance was present (1.14500) , the price should technically HIT 1.09000 where the next concrete support is present. However many months have passed by the price is typically rangebound with 1.145000 level now turned into a concrete resistance. At the moment most of the major central banks have started to ease their monetary policy, most notably the FED as a 25BP rate cut is already priced into the market which would likely take place at the end of this month. With the trade war effects already visible across the world it has certainly sent fears of an impending US recession as the yield curve stays inverted. Therefore the markets are largely expecting the FED to ease further in 2020 too. So all this theoretically should make the EURUSD spike higher but practically there has been little impact from the BULLS. While other currencies such as the SAFE HAVEN pairs (USDCHF, USDJPY) have all taken the HIT and talk about GOLD which has broken multi year records. THEREFORE THE MAIN QUESTION REMAINS: WHY IS THE EURUSD SO RESISTANT AND STRUGGLING TO CLIMB FURTHER BEYOND THE PSYCHOLOGICAL LEVEL OF 1.15? The answer to this question is not so complicated but the consequences are certainly bad for the EURUSD! First of all USD is still the world's reserve currency and the demand for it wont fade that easily. To add to this for many, the USD is a SAFEHAVEN compared to the EUR. Furthermore, if the FED eases their monetary policy their interest rate differentials will still be higher compared to the EUR which inturn would make the demand for the greenback stronger. Thirdly, the EUROZONE economy is not doing so well for the past months as most of the fundamental data as below the expectations As the ECB president mario draghi term comes to an end, the new to be appointed former president of the IMF could change the course of this pair in the coming year. But as for now i feel this pair would likely HIT 1.0900 which is a concrete support and after that it might rise further depending on the economic and monetary outlook in the EUROZONE and The U.S.
Short
by FX618Analysis
1
AUDJPY Channel Continuation! Price Likely To HIT 74.500 Level Have a look at the main chart of the weekly TF! Here we can see that the price has been confined in a downward channel. The nearby green horizontal lines represent the concrete support and resistance levels drawn from the Monthly charts. Shall the current ascending trendline inside the channel break, we could see the selling pressure build up towards the crucial support level at 74.500! For the current consolidation ascending trendline inside the channel to break, it would be favorable for the weekly candle to break convincingly after which a slight retracement is required before going SHORT on this pair! There is one more catch to this trade. have a look at the attached image above which shows the monthly TF picture of this pair confined in a long term triangle which has been respected on numerous occasions. So therefore we not only await for the weekly candle to close below the trendline but most importantly we must see the monthly candle close outside this triangle. If this all criteria are met, its an excellent chance to go SHORT on this pair! This just represents my analysis and outlook of this pair at the moment. shall the trade criteria be met i will post the details in a new post. Cheers
Short
by FX618Analysis
EURCHF May Continue Or Change The Trend !EURCHF has been in a decline for the past several weeks. The trend may just continue or it may change its course as the price approaches crucial support level of 1.11000. Currently looking at the weekly charts (the main chart) the price is trending down just shy of the crucial 1.11000 level. Ina few weeks the price is expected to reach that crucial support and then from there on it may either make trend change and aim for the above red line resistance levels or it may continue to head south where other support lies. Have a look at the daily chart in the below snapshot. The price action has developed a descending trendline and it has been respected on numerous occasions. A further confluence factor can be intensified for LONG trade if the trendline breaks together with the resistance of 1.15000. Its advisable to enter LONG when the 1.15000 level is broken and retested so we can get a better risk to reward ratio. On the flip side should the crucial support of 1.110000 break then it may or may NOT follow the current descending trend!. However the main thing that needs to happen is that the support needs to be broken convincingly so our probability can increase. All in all its a matter of being patient and let the price action play out so we can take a more risk to reward favored opportunity when the right time and circumstances appear. This is just my analysis and shall there be any trade signal i will post them in a new thread. cheers
by FX618Analysis