We see a clear bearish continuation of the trend (Break of Structure) at 11960. We can see that the price went to a zone established recently at the previous trade at 11895, making it a good support level.
Our analysis speculate that we might see a continuation of the bearish trend after this retracement at the resistance level 12005, at then if it rejects, you might open a trade after 11978.5 and targeting 2 RRR with stop-loss at 12032 and take-profit at the closest swing order block that we see at price 11860. Making a potential 2% gain with 1% risk of loss.
Our analysis speculate that we might see a continuation of the bearish trend after this retracement at the resistance level 12005, at then if it rejects, you might open a trade after 11978.5 and targeting 2 RRR with stop-loss at 12032 and take-profit at the closest swing order block that we see at price 11860. Making a potential 2% gain with 1% risk of loss.
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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.