We are in a clear bearish market and going down since around 1year
The last weeks we can see a correction in direction of a previous s/r zone which was respected several times before price was able to break it down + extra confluence by a trendline with several touches.
Now again we have 2 scenarios which could happen here.
1) Price respects the s/r zone + the trendline giving us a great opportunity to go short into the bigger picture trend direction
2) Price breaks the trendline + the s/r zone to the upside telling us that the downward trend could come to an end and offer us a chance to go long in a very early stage of this new trend
I personaly prefer the short side cause its always better to go with the bigger picture trend than against it but if market tells us a long is the way to go i will not discuss with him ;-)
The last weeks we can see a correction in direction of a previous s/r zone which was respected several times before price was able to break it down + extra confluence by a trendline with several touches.
Now again we have 2 scenarios which could happen here.
1) Price respects the s/r zone + the trendline giving us a great opportunity to go short into the bigger picture trend direction
2) Price breaks the trendline + the s/r zone to the upside telling us that the downward trend could come to an end and offer us a chance to go long in a very early stage of this new trend
I personaly prefer the short side cause its always better to go with the bigger picture trend than against it but if market tells us a long is the way to go i will not discuss with him ;-)
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.
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.