After being in a descending channel for a few years, price broke the channel and has made it back up the beginning of the initial downtrend. Which is also a strong area of S/R.
From here we can expect an optimal entry for a short, given price respects previous data. However with new macro economic variables and the strength of this recent run up, it is very likely that price breaks this zone and we get a rally.
More shorter term view in comments.
From here we can expect an optimal entry for a short, given price respects previous data. However with new macro economic variables and the strength of this recent run up, it is very likely that price breaks this zone and we get a rally.
More shorter term view in comments.
Note
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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.
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.