Hi Traders!
The market is in a downtrend!
As you can see there are is coming a Trendline from above.
It is a descending Trendline which is also a Resistance.
Furthermore, the market is no in a consolidation.
This consolidation occured after the breako of the Support-Trendline.
Because of:
- The descending Trendline
- The pressure of the 200MA
- The recent momentum (see at the last tree candles)
we recommend to trade the breakout downwards.
Thanks and successful Trading :)!
The market is in a downtrend!
As you can see there are is coming a Trendline from above.
It is a descending Trendline which is also a Resistance.
Furthermore, the market is no in a consolidation.
This consolidation occured after the breako of the Support-Trendline.
Because of:
- The descending Trendline
- The pressure of the 200MA
- The recent momentum (see at the last tree candles)
we recommend to trade the breakout downwards.
Thanks and successful Trading :)!
Note
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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.