AlbashafFX | Failing Trend Line, Go Short !
As you can see on 4H Time Frames, there's some crucial information of what's happening right now.
Our Trend Line has succesfully Reverse the Price at 21 June Low, but there's no follow trough from the bulls, The Price couldn't even make a new high and turning down again.
The Bulls are trying to reverse the price again at 30 June, and meet the same result, without making a new high, even a new Lower High as we can see.
From Daily Chart we can see that this was not the first Trend Line formed by the Bulls.
The First Trend Line was Broken, and the Bulls Find a Support at our current Trend Line.
Our most likely scenario are, the Trend will be broken once again, and the bulls will find another Trend Line at our next Support Area.
If the price moves up above our recently wick rejection, then this setup will be invalidated.
If you like an update of this analysis, please consider to follow.
Stay Safe, Stay Green Brother,
Our Trend Line has succesfully Reverse the Price at 21 June Low, but there's no follow trough from the bulls, The Price couldn't even make a new high and turning down again.
The Bulls are trying to reverse the price again at 30 June, and meet the same result, without making a new high, even a new Lower High as we can see.
From Daily Chart we can see that this was not the first Trend Line formed by the Bulls.
The First Trend Line was Broken, and the Bulls Find a Support at our current Trend Line.
Our most likely scenario are, the Trend will be broken once again, and the bulls will find another Trend Line at our next Support Area.
If the price moves up above our recently wick rejection, then this setup will be invalidated.
If you like an update of this analysis, please consider to follow.
Stay Safe, Stay Green Brother,
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.