See Signposts for key price action details.
- After price crossed below this level for the first time, it made an attempt to trade above it. This did not succeed.
- We are expecting further downside, but we are seeing a slight uptick in the dollar index (DXY) in the short run.
- The 1-hour chart is also a concern as price is holding just below this level for a bit longer than desired. Largely monitor for the time being.
Note
Note: Ideas published represent my viewpoints on anticipated structural directional moves. I do not post trade parameters (i.e. entry, take profit, stop loss, alternative exit points, etc.) as actual execution may differ from the respective trade idea published. My trades evolve around my expectancy with certain planned R-multiple and win rate. Use as your own discretion.Note
Quick look at the 1-hour time frame:Note
This play is still on-going given the pinbar on the open.
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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.