This pair has recently formed a bearish flag right at 50% retracement and at Daily Resistance level which has numerous price activity around said level.
Also notice that price is at the Bottom Cloud foreboding a breakout any moment.
Volume is also decreasing as price rallies higher indicating that this is not a legitimate bullish move.
Stochastics also indicate that price is ready for a free fall as it is in overbought territories.
We enter positions either at the breakout of the bearish flag and/or Daily Resistance, or for more a conservative approach upon breakout of the trendline and place our stop losses above the bearish flag with take profit levels placed at a 1:1 ration of the pole measured from the breakout
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.