The price goes through the channel. The trend is falling. Resistance line price. Therefore, now I expect a fall in prices to the support line. Breakdown of the resistance line and level - Cancel.
Traders, if you liked this idea or have your opinion on it, write in the comments. I will be glad👩💻
I'm in absolute agreement w your analysis. My own Concerns as I've entered this trade ~62.00, are trade duration and target price. Thoughts on timing and pricing? I use Fibs to asses targets. I'm short at 62.00 for a downside to previous lows? Although I feel we are all fighting temporary liquidity via Central Banks global QE. Please excuse my use of Macro within your technical analysis. especially since you have a stop out. Thoughts on duration and profit taking levels??
pyxis2025
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You have a strong support line @ 1.6544. This was hit on 30 April and again 11 May. I agree with your analysis for a short, but with a TP @ the support zone mentioned. Thank you.