SimoneGiannino

SimoneGiannino

After a long bull run from June we saw the start of a downtrend with shrinking volumes, now as we can see in the chart something more interesting is forming. It could be a wedge and we have some interesting characteristics like the volatility compression (ATR) and the volume shrinking (OBV). Let's wait the next days by watching if the volume expands with a...

SimoneGiannino Updated 

By analyzing the pair with a Weekly / Monthly chart it's clear that we are in a downtrend. But we are interested in the daily timeframe, so which are the main charateristics that show a probabilly bearish setup? 1) The volume as been decreasing while the price was going up, this means that the price was going up but the buyers are not enough strong and interested...

SimoneGiannino

As already studied in: the chart is getting into a more bearish pattern with stronger divergence and longer upper shadows. I placed my order with a 2% risk below the primary resistance with a SL above the secondary resistance. The ideal TP is in the nearest support zone where if the conditions are meet a second short position could be opened until it reach the...

SimoneGiannino Updated 

From a TA point of view it's clear that we are facing a massive resistance on history higher, at the moment the up trend seems keep moving even if a bearish divergence is showing up with the RSI. Heiken ashi is also showing a trend that is getting weak. I would say to watch how the volumes are and also how the shadows of the candlesticks are forming. If we get...