Last week we were looking at a weaker upside move.
This week we are looking at which levels we could see next.
Right now, price is in a nice downtrend and already breaking below previous lows, after it’s made a correction.
This pullback is also known as a Pennant in technical analysis.
Based on this figure and on the trend we should see a downside continuation.
We’ve marked the 1736-1804 zone as a support zone at which we’re going to be looking for price reaction.
In case of a reversal candles we recommend closing out selling positions.
It’s still early for buying opportunities and we don’t suggest looking for any on this timeframe!
This week we are looking at which levels we could see next.
Right now, price is in a nice downtrend and already breaking below previous lows, after it’s made a correction.
This pullback is also known as a Pennant in technical analysis.
Based on this figure and on the trend we should see a downside continuation.
We’ve marked the 1736-1804 zone as a support zone at which we’re going to be looking for price reaction.
In case of a reversal candles we recommend closing out selling positions.
It’s still early for buying opportunities and we don’t suggest looking for any on this timeframe!
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💡 If you want to know on what basis we make our entries, get in here: t.me/trendlinefreetrade
❓ If you got questions: t.me/Semkov
💡 If you want to know on what basis we make our entries, get in here: t.me/trendlinefreetrade
Related publications
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.
✅ JOIN FREE TELEGRAM: t.me/trendlinefreetrade
❓ If you got questions: t.me/Semkov
💡 If you want to know on what basis we make our entries, get in here: t.me/trendlinefreetrade
❓ If you got questions: t.me/Semkov
💡 If you want to know on what basis we make our entries, get in here: t.me/trendlinefreetrade
Related publications
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.