Overview:
Price is currently around the EMA's so there isn't really much directional bias however price is in a slight upwards trend so we have a more bullish outlook on this pair
Long Setup:
If price is able to break above the downwards trendline then on a retest of this support level, upon it holding there would be some good entries for long positions on this pair but we need to wait for the break of the downwards trendline and the retest of this level.
Short Setup:
If price is unable to hold this level of support then on a break and retest of the support level below the EMA's we could see some good entries for short positions but we need to first wait for the break and retest of the level of support for resistance.
Disclaimer:
This is my opinion on this asset at the time. This is not financial advise. Don't take this trade blindly, do your own analysis first before entering. Feel free to use this analysis to assist you with yours. Feel free to leave any comments you have. Good luck!!!
Price is currently around the EMA's so there isn't really much directional bias however price is in a slight upwards trend so we have a more bullish outlook on this pair
Long Setup:
If price is able to break above the downwards trendline then on a retest of this support level, upon it holding there would be some good entries for long positions on this pair but we need to wait for the break of the downwards trendline and the retest of this level.
Short Setup:
If price is unable to hold this level of support then on a break and retest of the support level below the EMA's we could see some good entries for short positions but we need to first wait for the break and retest of the level of support for resistance.
Disclaimer:
This is my opinion on this asset at the time. This is not financial advise. Don't take this trade blindly, do your own analysis first before entering. Feel free to use this analysis to assist you with yours. Feel free to leave any comments you have. Good luck!!!
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.