Bearish Setup
-Price was in an uptrend
but now it has stopped making higher highs.
-RSI is also showing bearish divergence
-The price point has also
rejected from resistance
XPT Short
- TVC:DXY strength warrants OANDA:XPTUSD bearish view
- Trend is negative
- Diminished price-volume support below 884
- Looking to short on confirmed support break(blue line on intraday chart
- Alternative thesis on TVC:DXY weakness, might see a jump off support and retrace to 906. Will look to long at that level.
XPT/USD is currently in a bearish free falling trend.
No retaliation has yet been met. We can expect it to continue further below until a strong support and consolidation is undergoing which would mark it's reversal point.
Risk management is an important pillar of trading succesfully.
Wish you all the best!
