From last week's analysis, we noted that a Bearish Triangle was going to form on the 4H chart.
Price has followed the analysis and got rejected at a key support level (yellow rectangle).
Price is likely to bounce back and get rejected at the new-formed resistance under the Triangle before going bearish and re-testing the key support level once again.
I'll keep an eye on the 4H chart this week and enter a short position on a lower timeframe when price has confirmed that it is rejected by the resistance level.
Thank you for reading and happy trading!
Disclaimer:
I am not a professional trader, financial/investment advisor, broker and/or dealer. The idea above is strictly based on my opinion and should only be used for entertainment/educational purposes only. Do conduct your own due diligence and do not act solely based on any information conveyed in this Trade Idea.
Price has followed the analysis and got rejected at a key support level (yellow rectangle).
Price is likely to bounce back and get rejected at the new-formed resistance under the Triangle before going bearish and re-testing the key support level once again.
I'll keep an eye on the 4H chart this week and enter a short position on a lower timeframe when price has confirmed that it is rejected by the resistance level.
Thank you for reading and happy trading!
Disclaimer:
I am not a professional trader, financial/investment advisor, broker and/or dealer. The idea above is strictly based on my opinion and should only be used for entertainment/educational purposes only. Do conduct your own due diligence and do not act solely based on any information conveyed in this Trade Idea.
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免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。