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Price was rejected by Ichi Cloud resistance zone, also by Higher Boundary of a Descending Channel.
However we have a 50 MA acting as a dynamic support. In case there is a confirmed breakout of the 50 MA we can initiate a short position.
Also we can initiate a short position if price breaks the Mid Line of a Descending Channel.
The price will turn to be bullish if there is a breakout of the Ichi Cloud resistance zone + 200 MA.
Thank you for reading this idea! Hope it's been useful to you and some of us will turn it into profitable!
Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.
The information given is not a Financial Advice.
Price was rejected by Ichi Cloud resistance zone, also by Higher Boundary of a Descending Channel.
However we have a 50 MA acting as a dynamic support. In case there is a confirmed breakout of the 50 MA we can initiate a short position.
Also we can initiate a short position if price breaks the Mid Line of a Descending Channel.
The price will turn to be bullish if there is a breakout of the Ichi Cloud resistance zone + 200 MA.
Thank you for reading this idea! Hope it's been useful to you and some of us will turn it into profitable!
Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.
The information given is not a Financial Advice.