The pair is in strong bearish momentum.
It broke through daily baseline and significant level.
Soon will reverse to retest the significant level/ touch the Kumo cloud again, then will enter with stronger technical confirmation.
It broke through daily baseline and significant level.
Soon will reverse to retest the significant level/ touch the Kumo cloud again, then will enter with stronger technical confirmation.
Note
Overall picture from my daily chartNote
Price went back to the significant level without stabilizing below it for a while. The shorting idea could be off. Will revisit it next week and decide.Note
Price still hovering inside the cloud (neutral zone).Waiting for the price to break below the Purple Kejen Sen line to get our sell signal.
Order cancelled
Looks like price "jerked" off and over extended to the bottom of the trendline. The pair outlook is not longer bearish after today bullish candle, and hence the trade set up is no longer valid
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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.