https://www.tradingview.com/chart/ticRKz5f/#
Hi guys, just sharing some of my thoughts.
Please feel free to comment so i can learn as well :)
An ascending triangle starting from 26 Apr 2016 to 1 Feb 2018, where the breakout occur.
Price also broke below the significant structure of 78.899.
Thus, several factors pointed out to me that the market is in a downtrend with the resistance at 74.772.
Downtrend channel was spotted as well but price is at the bottom of the channel.
Thus, there could be a possibility where the price will reverse before breaking out.
At 4H TF, price has tested 77.666 3 times but did not manage to break below.
Short opportunity if price breaks below 77.538
TP at 74.776
SL at 78.832
or buy opportunity of price breaks above 78.702.
TP at touch of the trendline
SL at 78.049
Hi guys, just sharing some of my thoughts.
Please feel free to comment so i can learn as well :)
An ascending triangle starting from 26 Apr 2016 to 1 Feb 2018, where the breakout occur.
Price also broke below the significant structure of 78.899.
Thus, several factors pointed out to me that the market is in a downtrend with the resistance at 74.772.
Downtrend channel was spotted as well but price is at the bottom of the channel.
Thus, there could be a possibility where the price will reverse before breaking out.
At 4H TF, price has tested 77.666 3 times but did not manage to break below.
Short opportunity if price breaks below 77.538
TP at 74.776
SL at 78.832
or buy opportunity of price breaks above 78.702.
TP at touch of the trendline
SL at 78.049