Price Rejection from Daily + Weekly + Monthly TimeFrame
Good day traders.
Below is my own trade idea:
I am BEARISH after based on the following points:
1. A shooting star / Bearish pin bar parallel with descending daily trendline.
2. Multiple Lower highs since August 2020, parallel with the pandemic.
3. Price rejected parallel weekly descending channel.
1828/1830 only works as a strong resistance for this pair but weak support ( refer to red arrows )
I would not hesitate to place my short based on my analysis. My SL is around the 1845 area and TP 1740.
My trade would be long-term until the end of the month.
Wish you all good luck.
Thanks
Below is my own trade idea:
I am BEARISH after based on the following points:
1. A shooting star / Bearish pin bar parallel with descending daily trendline.
2. Multiple Lower highs since August 2020, parallel with the pandemic.
3. Price rejected parallel weekly descending channel.
1828/1830 only works as a strong resistance for this pair but weak support ( refer to red arrows )
I would not hesitate to place my short based on my analysis. My SL is around the 1845 area and TP 1740.
My trade would be long-term until the end of the month.
Wish you all good luck.
Thanks