MohamedMagdy

MohamedMagdy Updated 

It is more expected to breakout down due to negative rsi divergence and the strong green line resistance

MohamedMagdy

According to VSA , this is a sign of weakness and the market may fall

MohamedMagdy

Just trade the breakout

MohamedMagdy

Wait for RSI Divergence an an entry confirmation tool

MohamedMagdy

Will be confirmed by following bull bars with lower volumes and narrow spread I'm not a VSA professional :)

MohamedMagdy

Just Trade the breakout The major long term trend is bearish

MohamedMagdy Updated 

Price action is rising with lower volumes !! I Think there might be a breakout of the violet channel to the downside , and that breakout may lead the pair to fall below the red resistance line of the previous bearish channel !! The breakout of the red resistance line of the previous bearish channel should be with high volume and spread in the up direction ,...

MohamedMagdy

The breakout of the violet channel to the downside could indicate a strong bearish move is coming for the pair That bearish move should be confirmed with any oscillator negative divergence

MohamedMagdy

The Main Trend is bearish within the red channel There is a negative RSI divergence while prices moves up within the pink bullish channel This could give indication for a soon reversal to the downside which will be confirmed by the breakout of the violet channel to the downside Also there is an inverse bearish AB=CD Pattern shown with the yellowish lines The...

MohamedMagdy

Trade the breakout in both

MohamedMagdy

The breakout down could give a sign for the last bearish move before that pair goes bull

MohamedMagdy

i THINK THE BREAKOUT WILL BE IN THE UP DIRECTION

MohamedMagdy

Buy to the target with the shown SL

MohamedMagdy

The pair is still moving in a down channel , the dotted yellow one , you can wait for the buliish correction to be formed then sell its breakout The breakout of the dotted yellow channel to the up side invalidate such bearish scenario

MohamedMagdy

Sell the breakout

MohamedMagdy

Buy the breakout to the target at which AB=CD is formed

MohamedMagdy

Sell the breakout

MohamedMagdy

Sell in case of the break down of the current correction