The price is at a major support level. If it doesn't break this zone, at the first daily bullish candle formation (hammer, inversed hammer, engulfing) we can go long.
If it breaks this support, we want to wait for a new low(a daily candle closed below the last spike), a retest of the area and then we can enter short.
If it breaks this support, we want to wait for a new low(a daily candle closed below the last spike), a retest of the area and then we can enter short.
Note
It seems like the price is going for the short. We would like to see a pullback up to 0.50 or 0.68 fibbo (both correction or a consolidation are fine) and then we can open shortsNote
might have been a false breakout of this support. Let's wait to see how the price will react before getting in another tradeTrade closed: target reached
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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.