Hello Traders,
Hope you all are doing good!!
As I mentioned in last analysis, the price has broken the momentum trend line after reaching 94.75 level.
According to the analysis, after breaking the trned line, the price has reached the 93.5 level.
At this point, we will wait for the price to give us next move.
1) Wait for the price rejection and Bearish signal from RED trend line. I expect the rejection near 93.85 level.
In case we see this price action, we can SELL till 93.5 level again
2) In case of break above this RED trend line, we can LONG till 94.2 level as next target.
3) In case price reach the GREEN trend line, observe the price action and avoid taking positions as we might be trapped in the trisngle at that time & hence better wait to get a better move signal based on break out.
Based on RSI, my bias is LONG.
Please follow me and like if you agree or this idea helps you out in your trading plan.
Disclaimer: This is just an idea. Please do your own analysis before opening a position.
Hope you all are doing good!!
As I mentioned in last analysis, the price has broken the momentum trend line after reaching 94.75 level.
According to the analysis, after breaking the trned line, the price has reached the 93.5 level.
At this point, we will wait for the price to give us next move.
1) Wait for the price rejection and Bearish signal from RED trend line. I expect the rejection near 93.85 level.
In case we see this price action, we can SELL till 93.5 level again
2) In case of break above this RED trend line, we can LONG till 94.2 level as next target.
3) In case price reach the GREEN trend line, observe the price action and avoid taking positions as we might be trapped in the trisngle at that time & hence better wait to get a better move signal based on break out.
Based on RSI, my bias is LONG.
Please follow me and like if you agree or this idea helps you out in your trading plan.
Disclaimer: This is just an idea. Please do your own analysis before opening a position.
Trade closed: target reached:
COngrats Traders
Track Record & other links:
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