Context:
As price broke support at 58114 and the demandline , we allreayd have some signs of weakness at hands,
as price retested the broken support and it tunred resistance we got confirmed weakness , and i wouldnt recomend any longs until we trade back above 58800 or a reversal at the 50% mark 55600 , shorts are heavy favoured in this pair.
Trade Opportunities:
Long:
Reversal at 50% mark 55600
Short:
Retracement + rejection of broken support at 57600
Signs of strength:
none
Signs Of weakness:
rejection of major 50% mark at 58800
broken support
broken demandline
support turned resistance
Support:
57000
56520
55600
Resistance:
57600
58114
58800
invezted.com
As price broke support at 58114 and the demandline , we allreayd have some signs of weakness at hands,
as price retested the broken support and it tunred resistance we got confirmed weakness , and i wouldnt recomend any longs until we trade back above 58800 or a reversal at the 50% mark 55600 , shorts are heavy favoured in this pair.
Trade Opportunities:
Long:
Reversal at 50% mark 55600
Short:
Retracement + rejection of broken support at 57600
Signs of strength:
none
Signs Of weakness:
rejection of major 50% mark at 58800
broken support
broken demandline
support turned resistance
Support:
57000
56520
55600
Resistance:
57600
58114
58800
invezted.com
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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.