Overview:
Price is currently below all three EMA's which is indicating a bearish outlook on this pair. With the added confluence of the downwards trend we are only looking for shorts on this pair until proven otherwise.
Short Setup:
If price is able to come back up to the area of resistance and hold it then once we get a bearish indicator then there would be some good entries for short positions
Long Setup:
If price is able to break past the resistance level beyond the EMA's then there would be some possible long entries on a break and retest of that resistance level but we'd need to see a big push to the upside before this setup is even in play
Disclaimer:
This is my opinion on this asset at the time. This is not financial advise. Don't take this trade blindly, do your own analysis first before entering. Feel free to use this analysis to assist you with yours. Feel free to leave any comments you have. Good luck!!!
Price is currently below all three EMA's which is indicating a bearish outlook on this pair. With the added confluence of the downwards trend we are only looking for shorts on this pair until proven otherwise.
Short Setup:
If price is able to come back up to the area of resistance and hold it then once we get a bearish indicator then there would be some good entries for short positions
Long Setup:
If price is able to break past the resistance level beyond the EMA's then there would be some possible long entries on a break and retest of that resistance level but we'd need to see a big push to the upside before this setup is even in play
Disclaimer:
This is my opinion on this asset at the time. This is not financial advise. Don't take this trade blindly, do your own analysis first before entering. Feel free to use this analysis to assist you with yours. Feel free to leave any comments you have. Good luck!!!
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.