H4 time frame.
Structure: The uptrend in the ascending channel was broken after the price moved to the 1.38900 resistance zone.
With a strong bearish move and no confirmation of the downtrend yet, it is advisable to wait for the price to clearly show a retracement confirming the trend.
The possibility that the price will retrace to the 1.38200 price zone may look for sell setups.
The profit target is the support at 1.37000.
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Wish you all have a good trading day!
Structure: The uptrend in the ascending channel was broken after the price moved to the 1.38900 resistance zone.
With a strong bearish move and no confirmation of the downtrend yet, it is advisable to wait for the price to clearly show a retracement confirming the trend.
The possibility that the price will retrace to the 1.38200 price zone may look for sell setups.
The profit target is the support at 1.37000.
-----------------------------------------------------------------------------------------------
Wish you all have a good trading day!
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Discord : discord.gg/5HTtehrJVK
Website: tradafx.net/
Youtube: youtube.com/c/TradaFXForexTrading
❤
Facebook: facebook.com/tradafx
Instagram: instagram.com/tradafx1/
Twitter: twitter.com/Tradafx1
Website: tradafx.net/
Youtube: youtube.com/c/TradaFXForexTrading
❤
Facebook: facebook.com/tradafx
Instagram: instagram.com/tradafx1/
Twitter: twitter.com/Tradafx1
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.