We're curently in a range which might present us actually three scenarios. The one with smaller probability not listed in this example is price stagnation and side movement, which (due to a long term breakout) has a positive impact on LONG positions.
Presented here however possibilities consider short term price movement which is restricted by previous behaviour of global traders community. Breakout above current resistance will result in signifficant price movement towards the upside - possibly well above presented here top from 17'th of August (LONG term dynamics).
We can't however exclude here long term (strong) resistance in this area, hence tight stop losses are recommended and appropriate capital managemet as always is cruicial for the long term outcome of trading activities.
For short term traders LONG here isn't a bad idea since there is a little bit of space for growth, considering visible RSI and supportive (not presented here) 100 Expotential Daily Moving Average. Apart from my cold storage capital - I stay here out of trading, waiting for further price development after unfinished yet weekend.
Have a great day - and good luck with your consistency.
Presented here however possibilities consider short term price movement which is restricted by previous behaviour of global traders community. Breakout above current resistance will result in signifficant price movement towards the upside - possibly well above presented here top from 17'th of August (LONG term dynamics).
We can't however exclude here long term (strong) resistance in this area, hence tight stop losses are recommended and appropriate capital managemet as always is cruicial for the long term outcome of trading activities.
For short term traders LONG here isn't a bad idea since there is a little bit of space for growth, considering visible RSI and supportive (not presented here) 100 Expotential Daily Moving Average. Apart from my cold storage capital - I stay here out of trading, waiting for further price development after unfinished yet weekend.
Have a great day - and good luck with your consistency.
