Looks like we should have a continuation to the downside with this pair.
These are my thoughts:
Overall trend is bearish
PA (price action) is under the 200ma on the D time frame
PA has moved quite a bit highter than the 20ma on the D time frame (insinuating a snap back)
PA is running into the .618 retracement level
We will see how this plays out but I think the odds are in our favor for a short position.
These are my thoughts:
Overall trend is bearish
PA (price action) is under the 200ma on the D time frame
PA has moved quite a bit highter than the 20ma on the D time frame (insinuating a snap back)
PA is running into the .618 retracement level
We will see how this plays out but I think the odds are in our favor for a short position.
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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.