Trend strength increasing, False break/ABCD
Potential false break above 127.000. Sellers quickly managed to push price back below the level.
The bearish trend seems to increase in strength and looking at the measured move objective we could get a substancial bearish move if the false break manifests.
I would only look to short around 127.000 if we see a weak pullback into the level. If the move into the level is strong and impulsive the buyers may be making a new attempt to break through the level.
The bearish trend seems to increase in strength and looking at the measured move objective we could get a substancial bearish move if the false break manifests.
I would only look to short around 127.000 if we see a weak pullback into the level. If the move into the level is strong and impulsive the buyers may be making a new attempt to break through the level.
Related publications
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.