Hello everyone!
-On a daily time frame, we can see that the price tested and rejected a strong resistance zone, and then the price formed a nice pin bar candle.
-We can see that the price tested and rejected multiple times resistance zone so I consider that zone as a strong resistance zone.
-The Stochastic indicator is showing a bearish regular divergence so we have an extra confirmation to enter a sell order.
-Before taking action in Forex, please check the economic calendar and currency strength meter.
-WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not Financial advice.
-On a daily time frame, we can see that the price tested and rejected a strong resistance zone, and then the price formed a nice pin bar candle.
-We can see that the price tested and rejected multiple times resistance zone so I consider that zone as a strong resistance zone.
-The Stochastic indicator is showing a bearish regular divergence so we have an extra confirmation to enter a sell order.
-Before taking action in Forex, please check the economic calendar and currency strength meter.
-WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not Financial advice.
Comment:
Please also check weekly setup on this pair before taking any action!