I won't short this if I were you
Rationale is simple. The longer term trend is bullish and the 1H chart shows a temporary correction. Yes, if you short, you might get lucky and win some pips profits but that also means you have to be fast with your fingers. Some may be fast to get in but late to get out, turning profits into losses. Not worth it.
Some are late to get in (FOMO) and early to get out , also resulting in losses from cognitive dissonance.
The smarter or conservative method is just wait. Wait at the 2.577 coast line to see if it rebounds (watch for bullish signs) before you initiate long position.
The fact that it is riding on a bullish trend means it can rebound much faster than you think and the risk/reward ratio may not be worthwhile to take a short position, in my opinion. There are many lower hanging fruits opportunities and that is the job of a trader, identify it and trade it.
It is easy to become complacent and not do the homework and assuming market will go your way. That is gambling based on luck and usually that is the first sign of trader falling off the cliff.
Avoid this trap at all costs !
Some are late to get in (FOMO) and early to get out , also resulting in losses from cognitive dissonance.
The smarter or conservative method is just wait. Wait at the 2.577 coast line to see if it rebounds (watch for bullish signs) before you initiate long position.
The fact that it is riding on a bullish trend means it can rebound much faster than you think and the risk/reward ratio may not be worthwhile to take a short position, in my opinion. There are many lower hanging fruits opportunities and that is the job of a trader, identify it and trade it.
It is easy to become complacent and not do the homework and assuming market will go your way. That is gambling based on luck and usually that is the first sign of trader falling off the cliff.
Avoid this trap at all costs !
Nota
faster than i thought, it was a fake breakdown and the prices have returned back to the bullish trend line. Halleujah!!!Nota
2.627 seems well supportedNota
since I am restricted to uploading 10 posts a day, I can't provide the latest update on this. On the day chart, you would see a strong bearish candle on 26 June at 1800 hours. Thus, I am expecting price to break the bullish trend line and slides towards 2.55 level first.Nota
The power of trend line analysis. It merely follows the bullish trend and continue to charge higher with intermittent corrections to let buyers come on board. Did you ?
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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.