Price is almost back at the top of the horizontal range between 0.82620 and 0.81920.
RSI is approaching overbought territory with momentum fading as price nears resistance. I’m looking for a short rejection here, targeting the bottom of the range.
Confluences:
Strong horizontal resistance at 0.82620
RSI nearing 70 zone with possible bearish divergence forming
Price trading within a clean range – ideal for fade setups
Risk/reward ratio favorable
Waiting for signs of rejection or bearish candle formation before entry confirmation.
RSI is approaching overbought territory with momentum fading as price nears resistance. I’m looking for a short rejection here, targeting the bottom of the range.
Confluences:
Strong horizontal resistance at 0.82620
RSI nearing 70 zone with possible bearish divergence forming
Price trading within a clean range – ideal for fade setups
Risk/reward ratio favorable
Waiting for signs of rejection or bearish candle formation before entry confirmation.
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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.