/*Trade it at your own risk*/
Manage your risk always
Trade idea with LT
- Price Action: Looking at the big picture here, we can say that we had a bear momentum starting from 19 Mar 2020 to 07 Jan 2021. Price has been correcting upward from the 07 Jan 2021 allowing buyers to buy and get confident in their bias. Around October 2021 price has violated the HL of the 03 Sep 2021 and the HL of the 06 Jul 2021. This indicates that the smart buyers are getting out and the dumb ones are still hoping for the bull trend to keep going. Because of that my belief then is that the bear momentum has resumed from the high of the 20 Aug 2021.
- Technical Analysis: The uptrend line that was painted from the low of 07 Jan 2021 to the high of 20 Aug 2021 has been broken. A retest of it can be interesting.
- Fundamental Analysis: watch the news and the Economic calendar closely. Especially the high impact ones.
Manage your risk always
Trade idea with LT