Price is now respecting the descending trendline as portrayed. Price has retraces towards a minor resistance line previously support.
We can look to short when we have a bearish candlestick pattern.
However I am also expecting the price to retraces towards the upper resistance level before heading it down.
Stop loss plan: As highlighted in the yellow box area
Good luck and trade safe!
We can look to short when we have a bearish candlestick pattern.
However I am also expecting the price to retraces towards the upper resistance level before heading it down.
Stop loss plan: As highlighted in the yellow box area
Good luck and trade safe!
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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.
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.