Hi Traders!
The market is in a downtrend.
As you can see the market was respecting the trendline.
After that the market was in a very tight consolidation around 1.08000.
So, some candles after that, the energy "exploded" and the trendline broke.
In this moment it is too early to sell, because there is still much bullish power in it.
But after a second movement like this (potential mini Flag Pattern), the sellers have a better chances.
The "waiting area" is around 1.09400 and before that we won't sell.
We recommend to wait for a candlestick pattern!
Thanks and good luck :)!
The market is in a downtrend.
As you can see the market was respecting the trendline.
After that the market was in a very tight consolidation around 1.08000.
So, some candles after that, the energy "exploded" and the trendline broke.
In this moment it is too early to sell, because there is still much bullish power in it.
But after a second movement like this (potential mini Flag Pattern), the sellers have a better chances.
The "waiting area" is around 1.09400 and before that we won't sell.
We recommend to wait for a candlestick pattern!
Thanks and good luck :)!
Note
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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.