Trade Setup
Duration: Intraday
Expires: 21/05/2025 15:00
Technical Overview
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
- Type: Sell Limit
- Entry: 85.95
- Target: 85.20
- Stop Loss: 86.20
- Risk/Reward Ratio: ~3:1
Duration: Intraday
Expires: 21/05/2025 15:00
Technical Overview
- Price action is showing signs of topping, with rallies stalling below previous highs.
- Short-term RSI is rising, but momentum appears to be weakening into resistance.
- Bespoke resistance is located at 85.95, which aligns with yesterday’s high — a likely ceiling for price in the short term.
- The preferred strategy is to sell into strength, with downside targeting support at 85.20.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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.
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.