The larger-scale price is in a bearish movement accompanied by a contrary uptrend with the configuration of a table shoulder shoulder structure. Wait for the confirmation of the price drop and then enter the retracement located at the cusp of the right shoulder...The chart also marks a divergence in the price of the counter trend shaping that indicates a possible drop in the chart spot. Obviously, this can fail if the desired conditions are generated within the macroeconomic environment. Thinking of the possibilities of a worsening of the rates with respect to the coronavirus and an even more corrosive economic closure for the economy, using consumption, investment and market performance as parameters, we can believe that this Chartist pattern can occur perfectly, but everything what remains is to wait for the confirmations on the pullback to be able to say that we are inside the price action.
here is what I have on watchlist for this pair, looks interesting
franco_GCh
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@transparent-fx, His idea is good, we just have to wait for the confirmations that each one raised for his possible entry. Yesterday I had an upside idea, but using a monthly chart I noticed that Fibonacci levels in the price downtrend marked a possible decrease in the given points and then the "confirmed" daily chart of 4 hours. It only remains to wait to enter. apart my rsi and the volume of contracts denote a divergence in price that can lead to a sharp drop. Sorry if my English is not adequate, I am not very good at English, I am from Argentina. I am 18 years old