Bullish Bias:
1. Bullish trend i.e. HH & HL as per
Dow Theory
2. Retesting 0.618 fib level
3. Retesting ascending trendline
Bearish Bias:
1. Bearish Divergence
2. Formation of double top
chart pattern
Conclusion:
1. Trend is overall in bullish trend,
however, trend reversal is expected due to
double top formation and bearish divergence.
As divergence is also indicating, a long
position can be taken with 40-50 pips profit &
than short position can be taken.
1. Bullish trend i.e. HH & HL as per
Dow Theory
2. Retesting 0.618 fib level
3. Retesting ascending trendline
Bearish Bias:
1. Bearish Divergence
2. Formation of double top
chart pattern
Conclusion:
1. Trend is overall in bullish trend,
however, trend reversal is expected due to
double top formation and bearish divergence.
As divergence is also indicating, a long
position can be taken with 40-50 pips profit &
than short position can be taken.
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.