Hi Traders!
The market is now in a consolidation--zone after a shortterm longtrend.
During its upmovements it respected the trendline.
But the more often the market tests a trendline, it becomes weaker and NOT stronger!
Its the same for support and resistance.
Now the market is in the consolidation area on the trendline.
If the market breaks out higher this idea would be invalid.
But if the market breaks down lower, we have two main TP-Levels:
The 106.800 and at 105.200.
We recommend to sell the breakout with a wide SL and a risk-to-reward of 1 to 2.
Thanks and good luck :)!
The market is now in a consolidation--zone after a shortterm longtrend.
During its upmovements it respected the trendline.
But the more often the market tests a trendline, it becomes weaker and NOT stronger!
Its the same for support and resistance.
Now the market is in the consolidation area on the trendline.
If the market breaks out higher this idea would be invalid.
But if the market breaks down lower, we have two main TP-Levels:
The 106.800 and at 105.200.
We recommend to sell the breakout with a wide SL and a risk-to-reward of 1 to 2.
Thanks and good luck :)!