Hi Traders!
The market is in a strong Downtrend.
To get the overview, here is the daily situation:
We can see a descending Trendline.
In addition we can see one Downmovement, than a Range and now we're in the second Downmovement.
And look at the RSI(14)! It is oversold at Value 19.01.
Now we switch to the H4-Timeframe.
We can see a fast descending Parallel Channel.
The blue drawn line shows a typical Trend Change Scenario.
Of course it can differ from the real scenario, but it can help you to get some reference points.
We recommend to trade the Breakout of Consolidation!
Thanks and successful Trading :)!
PS: At this moment it is too early to set a Trade. We have to observe the further course of the market.
You can define the Trade when the consolidation begins.
The market is in a strong Downtrend.
To get the overview, here is the daily situation:
We can see a descending Trendline.
In addition we can see one Downmovement, than a Range and now we're in the second Downmovement.
And look at the RSI(14)! It is oversold at Value 19.01.
Now we switch to the H4-Timeframe.
We can see a fast descending Parallel Channel.
The blue drawn line shows a typical Trend Change Scenario.
Of course it can differ from the real scenario, but it can help you to get some reference points.
We recommend to trade the Breakout of Consolidation!
Thanks and successful Trading :)!
PS: At this moment it is too early to set a Trade. We have to observe the further course of the market.
You can define the Trade when the consolidation begins.
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.