Price had broken out support levels from the upside with strong bearish pressure and appears to have retested the previously broken out level ~ current resistance.
Rejections are also forming, creating potentials for downside movements.
Key Factors:
-Price requires to find support around 1900$ level for further upside movements
-Support levels from the upside was significantly broken out with a strong bearish pressure
-Likely to see a further rejections and downside movements towards nearest support
Entry Conditions:
- Sell once the reversal pattern is confirmed near the resistance zone in lower timeframes
- Buy when price breaks current resistance and finds support
- Stops above current resistance zone and target towards nearest support
Invalidation of the sell setup if price breaks current resistance and presents a stronger upside momentum
Rejections are also forming, creating potentials for downside movements.
Key Factors:
-Price requires to find support around 1900$ level for further upside movements
-Support levels from the upside was significantly broken out with a strong bearish pressure
-Likely to see a further rejections and downside movements towards nearest support
Entry Conditions:
- Sell once the reversal pattern is confirmed near the resistance zone in lower timeframes
- Buy when price breaks current resistance and finds support
- Stops above current resistance zone and target towards nearest support
Invalidation of the sell setup if price breaks current resistance and presents a stronger upside momentum
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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.