If we are being quick and straight to the point, here are the reasons to look for a short position:
-The sentiment of the market is clearly bearish
-The price has nicely rejected the local zone of resistance
-Judging by the few previous 8H candles, bullish pressure is not strong enough to drive the price to the upside
When it comes to the target, setting it at the area of 0.65300 would be reasonable, as we have witnessed the price reject the zone before.
Trade with caution, follow the risk management principles, and stay positive!
-The sentiment of the market is clearly bearish
-The price has nicely rejected the local zone of resistance
-Judging by the few previous 8H candles, bullish pressure is not strong enough to drive the price to the upside
When it comes to the target, setting it at the area of 0.65300 would be reasonable, as we have witnessed the price reject the zone before.
Trade with caution, follow the risk management principles, and stay positive!
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.