Price is currently inside the red supply zone, where strong selling pressure was observed previously. When price retests this area, pending sell orders from institutions often trigger a reversal.
RSI turned down from a high level and crossed below its moving average, showing momentum loss on the bullish side.
My trade Plan:
SELL Entry: 0.5940 – 0.5950
Stop Loss: 0.5980
Take Profit: 0.5860
RSI turned down from a high level and crossed below its moving average, showing momentum loss on the bullish side.
My trade Plan:
SELL Entry: 0.5940 – 0.5950
Stop Loss: 0.5980
Take Profit: 0.5860
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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.