Overview:
Price is currently below the EMA's and is in a downwards trend so we are currently bearish on this pair until proven otherwise.
Short Setup:
If price is able to break below the area of support then on a retest of that level for resistance there would be some good entries for short positions but we need to first see the break and retest of that level before we enter.
Long Setup:
If price is able to break above the area of resistance that we have marked out then there would be some good entries for long positions but we first need to see that breakout from price and the break and retest of that level once price is above the EMA's.
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 the EMA's and is in a downwards trend so we are currently bearish on this pair until proven otherwise.
Short Setup:
If price is able to break below the area of support then on a retest of that level for resistance there would be some good entries for short positions but we need to first see the break and retest of that level before we enter.
Long Setup:
If price is able to break above the area of resistance that we have marked out then there would be some good entries for long positions but we first need to see that breakout from price and the break and retest of that level once price is above the EMA's.
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.