Hi Traders!
The market is in a downtrend in the big picture.
As you can see the market was in a parallel channel.
After that it broke out downwards.
The market is respecting the H4-Trendline (purple).
That's why it broke out of the parallel channel after it touched it.
So, the next major point the market could go is the support at 0.96000.
We recommend to take the profit when a trend reversal pattern is shown in the chart.
[/b]
Thanks and good luck :)!
The market is in a downtrend in the big picture.
As you can see the market was in a parallel channel.
After that it broke out downwards.
The market is respecting the H4-Trendline (purple).
That's why it broke out of the parallel channel after it touched it.
So, the next major point the market could go is the support at 0.96000.
We recommend to take the profit when a trend reversal pattern is shown in the chart.
[/b]
Thanks and good luck :)!
Note
The BIG RED box in big? HERE is it:
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.