After being in a descending channel for a few years, price broke the channel and has made it back up the beginning of the initial downtrend. Which is also a strong area of S/R.
From here we can expect an optimal entry for a short, given price respects previous data. However with new macro economic variables and the strength of this recent run up, it is very likely that price breaks this zone and we get a rally.
More shorter term view in comments.
From here we can expect an optimal entry for a short, given price respects previous data. However with new macro economic variables and the strength of this recent run up, it is very likely that price breaks this zone and we get a rally.
More shorter term view in comments.
Comment:
These analyses are my personal view on the market.
Always assume my investment risk tolerance is higher than yours
I’m here to make money, not hold your hand. Never blindly trust any analysis you see online because it fits your bias (including mine).
Always assume my investment risk tolerance is higher than yours
I’m here to make money, not hold your hand. Never blindly trust any analysis you see online because it fits your bias (including mine).
