Down Trend Short

Euro Fx/Japanese YenFXCM

Description

⋅ Aug 28, 2021 9:09 AM

With the previous uptrend , we saw a breakout and then a retest wich means a reversal of the trend. Market is forming new LH and LL, wich means great opportunity to sell.
Why selling:
-Down trend
-Two rejection candles on daily chart
-Touched previous pivot points
-Bellow MA 50
-Double top - 4H chart
-Forming new LH

Trend Analysis Trend Lines

Comments

Khiwe

⋅ Aug 28, 2021 11:40 AM

It's rising.

TheSnowFlake

⋅ Aug 30, 2021 7:10 AM

@Khiwe, the rising stopped, the trend was broke, till there is no new LH its downtrend in my opinion.

TheSnowFlake

⋅ Aug 30, 2021 8:33 AM

@Khiwe i think you might be right, i didn't say the rising wedge

TheSnowFlake

⋅ Aug 30, 2021 8:33 AM

@TheSnowFlake saw*

Khiwe

⋅ Aug 30, 2021 9:26 AM

@TheSnowFlake, okay :)

MeysamMoeini

⋅ Aug 28, 2021 10:03 AM

agree sister

TheSnowFlake

⋅ Aug 30, 2021 7:10 AM

@MeysamMoeini, good

Salvaa_Marquina

⋅ Aug 29, 2021 8:55 AM

ok maybe

TheSnowFlake

⋅ Aug 30, 2021 7:10 AM

@Salvaa_Marquina, let's see