Hi Traders!
The market is in a downtrend!
As you can see there are is coming a Trendline from above.
It is a descending Trendline which is also a Resistance.
Furthermore, the market is no in a consolidation.
This consolidation occured after the breako of the Support-Trendline.
Because of:
- The descending Trendline
- The pressure of the 200MA
- The recent momentum (see at the last tree candles)
we recommend to trade the breakout downwards.
Thanks and successful Trading :)!
The market is in a downtrend!
As you can see there are is coming a Trendline from above.
It is a descending Trendline which is also a Resistance.
Furthermore, the market is no in a consolidation.
This consolidation occured after the breako of the Support-Trendline.
Because of:
- The descending Trendline
- The pressure of the 200MA
- The recent momentum (see at the last tree candles)
we recommend to trade the breakout downwards.
Thanks and successful Trading :)!
Here you are: