All major time frames indicate this pair will keep going down.
3 point confluences:
1. Created lower highs in both long term & short term tend failing to break the trendlines
2. We've just got a CHoCH (change in character)
3. Sell order block has formed after going sideways for a couple of days which means price is most likely to revisit it before exploding down.
Entry strategy:
Wait for a pullback into the recent sell order block then enter when the stochastics indicator is overbought to help give us a tighter stop-loss.
Alternatively you can set a sell-limit order on the entry price (green line)
Note: price could keep travelling down without doing a pullback
GoodLuck!
3 point confluences:
1. Created lower highs in both long term & short term tend failing to break the trendlines
2. We've just got a CHoCH (change in character)
3. Sell order block has formed after going sideways for a couple of days which means price is most likely to revisit it before exploding down.
Entry strategy:
Wait for a pullback into the recent sell order block then enter when the stochastics indicator is overbought to help give us a tighter stop-loss.
Alternatively you can set a sell-limit order on the entry price (green line)
Note: price could keep travelling down without doing a pullback
GoodLuck!
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.