Though it possible that we might see the prices move up towards the descending trendline, it is also probable that once prices break the 5 200 pyschological level, more sellers will enter this market. Prices are below the 200 exponential moving average on all major timeframes, signaling a bearish bias. The market could likely open with a gap down considering that they closed at such a price (5 200).
Sell: When the price breaks below the 5 200 psychological level, or when the price rejects the descending trendline.
This trade will be null and void if the price breaks above the descending trendline and continues to make a series of higher highs and higher lows.
Sell: When the price breaks below the 5 200 psychological level, or when the price rejects the descending trendline.
This trade will be null and void if the price breaks above the descending trendline and continues to make a series of higher highs and higher lows.