Price action is beginning to lean bullish across the board, but we’re running head-first into a major descending trendline on the daily chart. That level hasn’t given way lightly in the past, so I’m not interested in forcing longs into a wall.
What I do expect is a healthy retracement—something that shakes out weak hands and reloads the larger move—potentially down into the 0.6500 zone. That area has the structure to generate real momentum if buyers are serious about violating the trendline.
Jumping long right here carries more risk than reward. The cleaner play, in my view, is to hunt tactical shorts into the pullback, then reassess for a confirmed bullish continuation once the market shows its hand.
Bigger picture: I’m still bullish. I just prefer to let the market breathe before taking the high-probability entry.
What I do expect is a healthy retracement—something that shakes out weak hands and reloads the larger move—potentially down into the 0.6500 zone. That area has the structure to generate real momentum if buyers are serious about violating the trendline.
Jumping long right here carries more risk than reward. The cleaner play, in my view, is to hunt tactical shorts into the pullback, then reassess for a confirmed bullish continuation once the market shows its hand.
Bigger picture: I’m still bullish. I just prefer to let the market breathe before taking the high-probability entry.
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.