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As we can see that the pair is in Symmetrical triangle and has given a downside breakout. One can wait for confirmation and let the price fall below the support.
Let us know your views on this in the comment section. Thank you all.
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"wait for confirmation" - I an new to trading and trying to understand wait for confirmation. So in this trade we just wait till it brakes 0.6269 and then enter to sell trade ?
Ryan_lopes
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@nuwan90n, yes. Thats the support level so price can bounce up from that level. So let it first break that support and let the candle(h4 or d1) stay below that level
Ryan_lopes
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@nuwan90n, did you see it, the price still did not break the support. That the reason i told to wait
nuwan90n
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@Ryan_lopes, yes it's been on this state more than 12 h, but it hit 0.6268 but bounce back..
so best time to enter is 0.6235 mark?