Bearish Indication
-Trend is downward which is in favor of bears
-Bearish engulfing is observed at the recent high low
-Bearish flag is made which predicts the downward trend and you may aim to the predicted target which is at 1.00570
-Support is being testing out at 4 hours frame at 1.01314
Bullish Indication:
-Resistance 1 at 1.02363
-Resistance 2 at 1.02041
Biased Go Short
Plan A
Short at support level 1.01314
SL: 1.02041
TP1: 1.01010
TP2: 1.00710
Plan B
Short at 1.01682
SL: 1.02041
TP1: 1.01381
TP2: 1.01081
If R1 is broken then there would be trend reversal. And may go long.
-Trend is downward which is in favor of bears
-Bearish engulfing is observed at the recent high low
-Bearish flag is made which predicts the downward trend and you may aim to the predicted target which is at 1.00570
-Support is being testing out at 4 hours frame at 1.01314
Bullish Indication:
-Resistance 1 at 1.02363
-Resistance 2 at 1.02041
Biased Go Short
Plan A
Short at support level 1.01314
SL: 1.02041
TP1: 1.01010
TP2: 1.00710
Plan B
Short at 1.01682
SL: 1.02041
TP1: 1.01381
TP2: 1.01081
If R1 is broken then there would be trend reversal. And may go long.
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.