According to the 30min chart we have possibility of trend reversal at 710USD.
You can see head'n'shoulder formation with neck line @ 700. Also we have 1 Doji candle at the last hour, so it means Rising trade volume confirms movement around this area. The idea will be supported at 710USD with strong bullish candle or RSI/MACD reversal (both not confirming yet - wait for the signal from me).
Possible reversal zones are fib 0.618 or fib 0.382 (678USD or 659USD). It's good idea to buy at this zones, it will rather not fall below 659USD. But remember about your stoplosses. Estimated area for stop loss is buy price -5%.
Good luck and happy trading.
S.
You can see head'n'shoulder formation with neck line @ 700. Also we have 1 Doji candle at the last hour, so it means Rising trade volume confirms movement around this area. The idea will be supported at 710USD with strong bullish candle or RSI/MACD reversal (both not confirming yet - wait for the signal from me).
Possible reversal zones are fib 0.618 or fib 0.382 (678USD or 659USD). It's good idea to buy at this zones, it will rather not fall below 659USD. But remember about your stoplosses. Estimated area for stop loss is buy price -5%.
Good luck and happy trading.
S.
Note
Meant "bearish", not "bullish" of course ;)
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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.