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TECHNICAL ANALYSIS:
In this H4 chart we got a really interesting situation, in fact the price is clearly following a descending channel and it's just reached an important resistance zone.
In a Daily perspective, instead, the price is moving following an ascending channel and price's just reached the channel's dynamic support, giving us the first sign of rejection.
CONCLUSION:
I think the price will move up following the daily trend because the two S/R dynamic line of that channel are perfectly rejecting the price.
In my opinion this is not the best moment to open a long position, but I'd wait the break out of the dynamic resistance line and I'll look for a long trade on the pullback, it will definitely confirm the beginning of the new uptrend and you could trade with less dubts!
Stay tuned for updates and trade details!
What's your opinion? Share your idea writing a comment!
Trade Safe and Responsibly
Gianni
TECHNICAL ANALYSIS:
In this H4 chart we got a really interesting situation, in fact the price is clearly following a descending channel and it's just reached an important resistance zone.
In a Daily perspective, instead, the price is moving following an ascending channel and price's just reached the channel's dynamic support, giving us the first sign of rejection.
CONCLUSION:
I think the price will move up following the daily trend because the two S/R dynamic line of that channel are perfectly rejecting the price.
In my opinion this is not the best moment to open a long position, but I'd wait the break out of the dynamic resistance line and I'll look for a long trade on the pullback, it will definitely confirm the beginning of the new uptrend and you could trade with less dubts!
Stay tuned for updates and trade details!
What's your opinion? Share your idea writing a comment!
Trade Safe and Responsibly
Gianni
