Price is currently at Monthly support zone after a few days of strong bearish force.
Wait for market to show its intention. It has been within a consolidation cycle for a good period of time now and therefore there is a possibility of going back to the North following green arrow path. You can wait for pullback and buy at next Daily support, or buy stop order at shown by the buy position tool targeting top Daily resistance zone.
If market shows further bearish force to the South, you can wait for price to retrace back to Monthly support-turn-resistance zone and wait for engulfing bearish candle stick formation. Alternatively you can just set a sell stop order inside Monthly support-turn-resistance zone after price broke the zone and bounces back for retracement. Target on the next Daily support zone as indicated by sell position tool.
Wait for market to show its intention. It has been within a consolidation cycle for a good period of time now and therefore there is a possibility of going back to the North following green arrow path. You can wait for pullback and buy at next Daily support, or buy stop order at shown by the buy position tool targeting top Daily resistance zone.
If market shows further bearish force to the South, you can wait for price to retrace back to Monthly support-turn-resistance zone and wait for engulfing bearish candle stick formation. Alternatively you can just set a sell stop order inside Monthly support-turn-resistance zone after price broke the zone and bounces back for retracement. Target on the next Daily support zone as indicated by sell position tool.
Comment:
Seems like price has decided to go South after all following its Monthly trend as suspected.