TaherJalili

Watching for Quick Retrace

Short
CURRENCYCOM:FR40   CAC 40
Price in recent sessions in this market has sold off heavily.

As the daily chart shows; price has formed some large bearish candles lower with strong momentum.

Price has also broken through the recent swing low and support area . This recent swing low could now come in as an area of interest.

If price can retrace back higher in the next few sessions we could watch to see if it holds as a new price flip resistance level .

This level could also be a solid level to look for potential short trades.

Comments

Nice idea!
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