It looks like price has run out of steam at a strong resistance level and will start to pull back. We've got bearish divergence on multiple indicators.
I do believe monthly + weekly outlook is bullish but we have an opportunity to take 50+ pips from the market here with a tight stop.
Daily timeframe upper resistance of channel has been touched:
MACD shows bearish divergence:
RSI shows bearish divergence:
I do believe monthly + weekly outlook is bullish but we have an opportunity to take 50+ pips from the market here with a tight stop.
Daily timeframe upper resistance of channel has been touched:
MACD shows bearish divergence:
RSI shows bearish divergence:
Trade closed: target reached
Closed early at +35pips as we touched the EMA50 on 4-hour timeframe and we have bullish divergence on the lower timeframes. A pullback is expected and as we traded a pullback, I did not favour keeping it open any longer for 15pips more.
Website: ajazelahi.com/
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For my signal & fully automated copy-trading services, get in touch @ t.me/Ajaz_Elahi
Disclaimer: I do not take all of the trades I publish.
Facebook Group: facebook.com/groups/aefx786
For my signal & fully automated copy-trading services, get in touch @ t.me/Ajaz_Elahi
Disclaimer: I do not take all of the trades I publish.
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.
Website: ajazelahi.com/
Facebook Group: facebook.com/groups/aefx786
For my signal & fully automated copy-trading services, get in touch @ t.me/Ajaz_Elahi
Disclaimer: I do not take all of the trades I publish.
Facebook Group: facebook.com/groups/aefx786
For my signal & fully automated copy-trading services, get in touch @ t.me/Ajaz_Elahi
Disclaimer: I do not take all of the trades I publish.
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.