Price is showing rejections after hitting a monthly resistance zone.
Expect to see strong buy orders at 93.50 - 94.00 due to it still being an uptrend.
I would expect to buy at 93.50 - 94.00 if sellers momentum turns weak, and buyers orders start to show at the lower time frame.
I would expect to sell if sellers momentum continues to become strong. It will triggers buyers stop loss below 94.00.
Expect to see strong buy orders at 93.50 - 94.00 due to it still being an uptrend.
I would expect to buy at 93.50 - 94.00 if sellers momentum turns weak, and buyers orders start to show at the lower time frame.
I would expect to sell if sellers momentum continues to become strong. It will triggers buyers stop loss below 94.00.
Note
Note
Missed the trade on 94.00. If you entry now, it's a 1:1 risk reward ratio. Would you risk 50 pips for 50 pips? I would not. Go look for another trade to hunt.
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.
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.