Potential Bearish Setup on Weekly Chart
The Bearish Fib-3 Bat formation on the Weekly chart certainly catches the eye, particularly with the presence of a long-shadow candle.
However, it's important to acknowledge that the trading setup remains unconfirmed. Waiting for confirmation may entail missing out on potential profits, to the tune of 200 pips.
Here are some strategic considerations:
Option 1: Shorting Opportunity from Lower Timeframes
Option 2: Trading Within the Range (1-hourly Chart)
The pivotal question arises: What's your trade plan? Your insights matter. Please share your perspective below!
However, it's important to acknowledge that the trading setup remains unconfirmed. Waiting for confirmation may entail missing out on potential profits, to the tune of 200 pips.
Here are some strategic considerations:
Option 1: Shorting Opportunity from Lower Timeframes
- One approach is to anticipate a shorting opportunity on lower timeframes, thus potentially capitalizing on a downside move without waiting for full confirmation.
Option 2: Trading Within the Range (1-hourly Chart)
- Both sellers and buyers find opportunities within the 2 zone. This entails engaging with the Resistance at 150.49 and the Support level at 149.00.
The pivotal question arises: What's your trade plan? Your insights matter. Please share your perspective below!
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