A short trade opportunity recently presented itself on the kiwi-dollar trading chart 📉.
This is indicated by the bearish engulfing candlestick 🕯️ pattern just on the 0.60210 horizontal resistance level.
This indicates a false breakout (fakeout) of the same level, with potential price move in the downward 👇 ⬇️ direction.
Sufficient downward momentum should see price dumping towards the 0.59000 psychological level and possibly testing the strength of the 0.58590 horizontal support level.
As always, please apply appropriate risk management.
Happy trading!
This is indicated by the bearish engulfing candlestick 🕯️ pattern just on the 0.60210 horizontal resistance level.
This indicates a false breakout (fakeout) of the same level, with potential price move in the downward 👇 ⬇️ direction.
Sufficient downward momentum should see price dumping towards the 0.59000 psychological level and possibly testing the strength of the 0.58590 horizontal support level.
As always, please apply appropriate risk management.
Happy trading!
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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.
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.