The trigger for a short entry would be a daily close (5 pm EST) below channel support. However, there is a trend line that extends from the October low that was just breached on a 4-hour closing basis.
From here any retest of the 1.1620/30 area as new resistance will likely encounter an influx of selling pressure. Key support comes in at the channel bottom near 1.1510/20. A daily close below that could serve as an opportunity to add to an existing short position.
If we don’t get a retest of the 4-hour trend line below, I will wait for a close below support near 1.1510/20. Either way, the objective is the August low at 1.1260.
Source: bit.ly/2zmMVKp
From here any retest of the 1.1620/30 area as new resistance will likely encounter an influx of selling pressure. Key support comes in at the channel bottom near 1.1510/20. A daily close below that could serve as an opportunity to add to an existing short position.
If we don’t get a retest of the 4-hour trend line below, I will wait for a close below support near 1.1510/20. Either way, the objective is the August low at 1.1260.
Source: bit.ly/2zmMVKp
I post my chart setups here on TradingView.
For full breakdowns, videos, and daily lessons, visit Daily Price Action.
For full breakdowns, videos, and daily lessons, visit Daily Price Action.
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I post my chart setups here on TradingView.
For full breakdowns, videos, and daily lessons, visit Daily Price Action.
For full breakdowns, videos, and daily lessons, visit Daily Price Action.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.