Purely technical outlook.
Thesis:
Break & retest last significant market structure.
Price had a neat 12% rally stemming from news of the war.
It has since lost momentum with price retracing 50% measuring the lows on Jan 31st to the peak.
More recently, a significant support was broken and is now being retested - and it should be met as resistance.
Price is currently at an area of value, which means it can provide the best R:R for the current situation on both sides of the trade - however I'm leaning more so on the sell side.
Below are a few charts worth noting:
Thesis:
Break & retest last significant market structure.
Price had a neat 12% rally stemming from news of the war.
It has since lost momentum with price retracing 50% measuring the lows on Jan 31st to the peak.
More recently, a significant support was broken and is now being retested - and it should be met as resistance.
Price is currently at an area of value, which means it can provide the best R:R for the current situation on both sides of the trade - however I'm leaning more so on the sell side.
Below are a few charts worth noting:
Note
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It has begun..Note
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Related publications
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.