Hello everyone, hope you are doing well.
Even though this has been proven to be a strong line of support we should not be surprised if this trade falls further. Get your stop losses ready and keep an eye out for this trade if you plan on longing it. I have every reason as to why this is a very bearish trade and just because it is on past support does not mean it will not breakthrough.
A big reason why we are in a descending triangle. I think we can still take the risk to squeeze out some profit but do not get greedy in this trade. Take what you can quickly and be ready to short this currency pair. The real profit is in the bearish trend that it is truly in.
Good luck everyone happy trading
~JS
Even though this has been proven to be a strong line of support we should not be surprised if this trade falls further. Get your stop losses ready and keep an eye out for this trade if you plan on longing it. I have every reason as to why this is a very bearish trade and just because it is on past support does not mean it will not breakthrough.
A big reason why we are in a descending triangle. I think we can still take the risk to squeeze out some profit but do not get greedy in this trade. Take what you can quickly and be ready to short this currency pair. The real profit is in the bearish trend that it is truly in.
Good luck everyone happy trading
~JS
Comment:
Be ready to SHORT, the descending triangle is going to be in full effect.