The following lines are: Blue is 4 hours Support and Resistance Red is daily Support and Resistance At Resistance level 1 = 1.53155, it can be considered as significant level because more sellers are seen in this position. Past couple of days Resistance also broke hence forming a new one. Bears are attacking near the resistance point forming a bearish engulfing candle. Support Level broke at S1: 1.52622. Stop Loss 1.53198 Sell at 1.52933 Take Profit at 1.52484 Overall its a bearish trend LL and HL can be observed. If new support level is formed and resistance level isn't hit then again you should go short.
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.