**Price Action Analysis**
Price is currently in a bearish trend, trading below the 20MA
The daily candle closed below a major support level, indicating strong selling pressure and bearish momentum
Price is now presenting a potential breakout and retest setup, with the previous support level acting as new resistance
Take profit is positioned at the next major support level
Always apply proper risk management and maintain a well positioned stop loss
Price is currently in a bearish trend, trading below the 20MA
The daily candle closed below a major support level, indicating strong selling pressure and bearish momentum
Price is now presenting a potential breakout and retest setup, with the previous support level acting as new resistance
Take profit is positioned at the next major support level
Always apply proper risk management and maintain a well positioned stop loss
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.