Hi Traders!
The market is in an uptrend.
As you can see the Resistance 1.10000 was a psychological important level for many traders.
From there the market often turned back.
But just a few candles ago the market broke out of this level.
Of course there was a big fight between Bulls and Bears, but the Bulls finally won.
At this moment the market is moving in a Parallel Channel and it is at the Top.
The Stochastic is also overbought.
Because of these two confirmations we are waiting for a Pullback and Retest of the 1.10000 Level.
But there are many values wich give also Support to the market. They are:
We recommend to wait for another Pullback for a better entry.
Thanks and successful Trading :)!
The market is in an uptrend.
As you can see the Resistance 1.10000 was a psychological important level for many traders.
From there the market often turned back.
But just a few candles ago the market broke out of this level.
Of course there was a big fight between Bulls and Bears, but the Bulls finally won.
At this moment the market is moving in a Parallel Channel and it is at the Top.
The Stochastic is also overbought.
Because of these two confirmations we are waiting for a Pullback and Retest of the 1.10000 Level.
But there are many values wich give also Support to the market. They are:
- The Channel
- the 20MA
- the 50MA
- the strong bullish Price Action and
- the trend.
We recommend to wait for another Pullback for a better entry.
Thanks and successful Trading :)!
Note
You we're waiting for this, right? ;)
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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.
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.