Continuation of ascending channel persists.
This pair has been on my watchlist for a while now and I've decided to put it back up just to share my ideas with the TradingView community.
As we can see, we have an ascending channel that basically started around the second half of August 2018. Prices have been bouncing from support to resistance from then and I anticipate a continuation of this trend.
The price is currently at the resistance zone/level. And as we all know that the bottom of the channel is considered a buy zone while the top of channel is considered a sell zone. So it would be pretty safe to assume that going short at the current level will give you a good return on your investment.
However, if the market gods decide to continue the bullish movement, we will have our stop losses in place just to protect our investment.
Share your thoughts and ideas on the pair and the analysis.
Would highly appreciate some feedback.
As we can see, we have an ascending channel that basically started around the second half of August 2018. Prices have been bouncing from support to resistance from then and I anticipate a continuation of this trend.
The price is currently at the resistance zone/level. And as we all know that the bottom of the channel is considered a buy zone while the top of channel is considered a sell zone. So it would be pretty safe to assume that going short at the current level will give you a good return on your investment.
However, if the market gods decide to continue the bullish movement, we will have our stop losses in place just to protect our investment.
Share your thoughts and ideas on the pair and the analysis.
Would highly appreciate some feedback.
Trade closed: target reached