PRICE ACTION: Price is at the resistance of an Ascending Channel and also at the Resistance of a Horizontal price Line.
PSARZ:Price is at the Horizontal Resistance
STOCH: Price is at the Overbought region. There is possibility of price retracing back to the oversold region which effect on channel will be price at Support of the Ascending Channel.
SMA : It is a Buy on H1 TF because SMA 20 is over SMA 50 but price has overextended from the Moving Average so I am expecting snap back of Price to Moving Average. This does not mean reversal but retracement.
VOLUME: Volume is low comparing to Average Volume of 12,296
CANDLESTICK: The last candle is a BearisH Long-Legged Doji
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PSARZ:Price is at the Horizontal Resistance
STOCH: Price is at the Overbought region. There is possibility of price retracing back to the oversold region which effect on channel will be price at Support of the Ascending Channel.
SMA : It is a Buy on H1 TF because SMA 20 is over SMA 50 but price has overextended from the Moving Average so I am expecting snap back of Price to Moving Average. This does not mean reversal but retracement.
VOLUME: Volume is low comparing to Average Volume of 12,296
CANDLESTICK: The last candle is a BearisH Long-Legged Doji
LIke and Comment If you find my chart analysis helpful
Trade closed: stop reached