Hello Traders!
Although price action
Z1! on the D1 timeframe continues to follow an uptrend, the H4 timeframe has reversed into a downtrend, indicating a high probability that the D1 timeframe will continue to correct.
Price action is currently consolidating near the support line, suggesting that if there is a strong bearish breakout signal, the D1 timeframe will likely continue to test deeper support levels, at least down to the most recent low.
We will wait for a bearish breakout candle at the support level with high volume and place a Sell limit order.
Although price action
Z1! on the D1 timeframe continues to follow an uptrend, the H4 timeframe has reversed into a downtrend, indicating a high probability that the D1 timeframe will continue to correct.Price action is currently consolidating near the support line, suggesting that if there is a strong bearish breakout signal, the D1 timeframe will likely continue to test deeper support levels, at least down to the most recent low.
We will wait for a bearish breakout candle at the support level with high volume and place a Sell limit order.
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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.
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.