Price moves in correction of medium term downtrend and there is good chance the correction is about to over.
Whole correction in development looks like form of flat abc where i consider two options at the moment.
First option that price will retest previous swing high of correction or will fall now breaking small hourly line as on chart.
There is still a bit of room to daily trendline so price might climb a little more.
Whole correction in development looks like form of flat abc where i consider two options at the moment.
First option that price will retest previous swing high of correction or will fall now breaking small hourly line as on chart.
There is still a bit of room to daily trendline so price might climb a little more.
Trade closed: stop reached
Note
I will be waiting for another sell setup on this pair
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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.