We are aproaching the 1.11600-1.11825 resistance zone and we might be touching the descending channel for the third time, so 2 different scenarios are on the table:
For longs:
-Wait for a clear breakout of the channel and a re-test of the resistance zone.
For shorts:
-We have rejected the 200 MA on the daily chart;
-Wait for 1D red candle close below the 200 MA and look for an entry on the lower time frames;
-Use stop-loss above the resistance zone.
This is not financial advice.
For longs:
-Wait for a clear breakout of the channel and a re-test of the resistance zone.
For shorts:
-We have rejected the 200 MA on the daily chart;
-Wait for 1D red candle close below the 200 MA and look for an entry on the lower time frames;
-Use stop-loss above the resistance zone.
This is not financial advice.
Note
We broke the descending channel and the resistance zone. Wait for a re-test to buy
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.