We see a clear bearish continuation of the trend (Break of Structure) at 11960. We can see that the price went to a zone established recently at the previous trade at 11895, making it a good support level.
Our analysis speculate that we might see a continuation of the bearish trend after this retracement at the resistance level 12005, at then if it rejects, you might open a trade after 11978.5 and targeting 2 RRR with stop-loss at 12032 and take-profit at the closest swing order block that we see at price 11860. Making a potential 2% gain with 1% risk of loss.
Our analysis speculate that we might see a continuation of the bearish trend after this retracement at the resistance level 12005, at then if it rejects, you might open a trade after 11978.5 and targeting 2 RRR with stop-loss at 12032 and take-profit at the closest swing order block that we see at price 11860. Making a potential 2% gain with 1% risk of loss.
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