Hi Traders!
The market is in a Downtrend.
As you can see the market is in a Retracement move in this moment.
This Movement is in a Formation of a Parallel Channel.
You can also see it as a Bearish Flag Pattern.
In addition the 50 Exponential Moving Average is coming close.
It could give additional pressure too.
We recommend to set the SL above the 50 MA.
Thanks and successful Trading :)!
The market is in a Downtrend.
As you can see the market is in a Retracement move in this moment.
This Movement is in a Formation of a Parallel Channel.
You can also see it as a Bearish Flag Pattern.
In addition the 50 Exponential Moving Average is coming close.
It could give additional pressure too.
We recommend to set the SL above the 50 MA.
Thanks and successful Trading :)!
Note
Here is the RED BOX, but in Big:
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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.