Chart Analysis
Technical Analysis:
- Price recently fell below a long term uptrend upper trend line and trading in a tight range near the lows of full range.
- Price seems to be forming either a rising wedge *(bearish chart pattern) or a triangle wedge *(bear or bullish chart pattern). Supporting the indecision and why price trading in tight range BUT......slight rising wedge chart pattern, downward price movement and strong resistance level pushes more towards a weakening bullish starting to turn bearish.
- Selling volume spikes above average has been around economic event announcements.
- RSI giving a weak sell signal because price is above moving averages and vortex indicator is still bullish but with a narrow gap.
Signals: (Recommendations and doesn't guarantee profits or losses)
- Scalp Trade
- Sell Limit: 1.11000 - 1.08000
- Take Profits: 1.10300 - 1.09700
- Reward/Risk Ratio: 2/3:1
- Day/Swing Trade:
- Sell Limit: 1.10200 - 1.10100
*ENTRY AFTER PRICE FALLS BELOW AND RETEST MOVING AVERAGE AND WEDGE SUPPORT LEVEL
(ASSUMING A BREAKOUT BELOW SUPPORT LEVELS)
- Take Profits: 1.09700 - 1.0300
- Reward/Risk Ratio: 2/3:1
Technical Analysis:
- Price recently fell below a long term uptrend upper trend line and trading in a tight range near the lows of full range.
- Price seems to be forming either a rising wedge *(bearish chart pattern) or a triangle wedge *(bear or bullish chart pattern). Supporting the indecision and why price trading in tight range BUT......slight rising wedge chart pattern, downward price movement and strong resistance level pushes more towards a weakening bullish starting to turn bearish.
- Selling volume spikes above average has been around economic event announcements.
- RSI giving a weak sell signal because price is above moving averages and vortex indicator is still bullish but with a narrow gap.
Signals: (Recommendations and doesn't guarantee profits or losses)
- Scalp Trade
- Sell Limit: 1.11000 - 1.08000
- Take Profits: 1.10300 - 1.09700
- Reward/Risk Ratio: 2/3:1
- Day/Swing Trade:
- Sell Limit: 1.10200 - 1.10100
*ENTRY AFTER PRICE FALLS BELOW AND RETEST MOVING AVERAGE AND WEDGE SUPPORT LEVEL
(ASSUMING A BREAKOUT BELOW SUPPORT LEVELS)
- Take Profits: 1.09700 - 1.0300
- Reward/Risk Ratio: 2/3:1
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.