Downward momentum is slowing down
And in the short time frame, It is moving in a channel.
The green line on the bottom acts as a strong support line and the trend doesn't have enough power to break it just yet.
MFI is breaking the resistance line and We can expect short term rebound.
It will hit the resistance line which previously formed rising wedge pattern.
Then we can find a good opportunity for short position.
And in the short time frame, It is moving in a channel.
The green line on the bottom acts as a strong support line and the trend doesn't have enough power to break it just yet.
MFI is breaking the resistance line and We can expect short term rebound.
It will hit the resistance line which previously formed rising wedge pattern.
Then we can find a good opportunity for short position.
Trade closed: target reached:
Target Reached.