Day chart shows the repeated pattern. Once again, do not expect a straight line hitting south but possibly a few upsurge corrections here and there.
The challenge is it is in the middle and shorting now may yield lesser profits but also higher risks as well. So traders, watch your position carefully as rebound is possible and may take you out if your SL is too tight. Too big a SL, you tie up unnecessary funds on this position and incur opportunity costs on other pairs/products.
The challenge is it is in the middle and shorting now may yield lesser profits but also higher risks as well. So traders, watch your position carefully as rebound is possible and may take you out if your SL is too tight. Too big a SL, you tie up unnecessary funds on this position and incur opportunity costs on other pairs/products.
Comment:
Moving nicely along the red arrow as indicated on chart. Congrats to those who followed.
Comment:
We were out with a loss on this pair as the fire power from the buyers were too strong. You can see the last green candle , a hammer pattern , meaning buyers at the end, pushes the price up aggressively. Bulls win over bears.
It could meet some resistance soon at 0.68706 to 0.68802 level , forming the right shoulder of the H&S pattern. Let's see how it turns out
It could meet some resistance soon at 0.68706 to 0.68802 level , forming the right shoulder of the H&S pattern. Let's see how it turns out
