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Colour key: Blue = Monthly, Pink = Weekly, Grey = Daily/4H/1H
As you can see, i've marked out several key supply and demand (S&D) zones, as well as key support and resistance (S&R) zones, from the monthly and weekly timeframe. There is also an upper trendline which price has been following and respecting for many weeks now and until it is broken, i have a bearish bias for this pair.
I've drawn a path that i believe price may follow based on the S&R levels and S&D zones that i've marked out. On this daily timeframe, you can see a triple top pattern forming at level 153.460, which suggests price will dump soon. A head and shoulders pattern is also somewhat forming on the weekly timeframe, which also suggests a move downwards.
I myself am already entered this setup, but i will be taking partial profit at key levels and re-entering positions at retracements with confirmation.
Updates to follow, follow me to see them.
Colour key: Blue = Monthly, Pink = Weekly, Grey = Daily/4H/1H
As you can see, i've marked out several key supply and demand (S&D) zones, as well as key support and resistance (S&R) zones, from the monthly and weekly timeframe. There is also an upper trendline which price has been following and respecting for many weeks now and until it is broken, i have a bearish bias for this pair.
I've drawn a path that i believe price may follow based on the S&R levels and S&D zones that i've marked out. On this daily timeframe, you can see a triple top pattern forming at level 153.460, which suggests price will dump soon. A head and shoulders pattern is also somewhat forming on the weekly timeframe, which also suggests a move downwards.
I myself am already entered this setup, but i will be taking partial profit at key levels and re-entering positions at retracements with confirmation.
Updates to follow, follow me to see them.
Trade attivo
Price is following my analysis nicely. It has rejected off of the weekly zone and price is still making it's way to the downside.Nota
Price is approaching the lower weekly zoneTrade chiuso: obiettivo raggiunto
250 pips secured
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.