The RSI has retraced below the 60 line on the daily chart, indicating that there is a downtrend on the lower timeframes. The next step we must take is to wait for the price to enter a quality supply zone, which is shown on the 30-minute chart. Once the price reaches this area of supply, we anticipate a further move down for a minimum of a 1:1 risk-reward ratio.
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.