Usually I don't like this kind of setup when price is in the middle of nowhere, but in this case I can see two possible entries.
if the resistance breaks, there's a long entry, if it holds and the price bounces back, this means I will short this market.
For the very patient ones upon you, wait till price hits the top of the channel and then you could short this market.
Let me know what you think!
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So, the resistance held, we have another small one at the level of 45.85 to 46.20 $ I think the downtrend continues for a short while, but will sooner or later turn around.
Maybe one more (big) swing to the bottom, before in August price will rise again (prepare for the cold season of the year)
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half way there, maybe take half the profits and get SL closer to price (up to you)
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Nice, everything goes according to plan, cant wait for that bounce off the bottom support and open my long position!
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well... price is forming higher lows, but on the same time lower highs. I still believe that price will go up, so I entered a small position.
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I think we will see another move to the top soon. There is a minor support at around 45.40$ and the price just bounced off from there.
@dianalvarez12, you should be ready to take profits, since I believe the short trend will end soon. Me personally, I would set a tight stop. Best of luck and lots of profits, my friend