We love not only Crypto.
There is a great formation on USD/ILS currency pairs.
There is a HUGE bearish trend on a bigger frame.
Now the price is in a correction and there is an Ascending Channel.
Second confirmation, there is a strong resistance level. Price is close to this zone now.
Follow the chart and look for the bounce and next breakout...
USDILS we are bearish on the daily timeframe market has broke the uptrend with a strong impulse to the downside which has been followed by a correction to the 0.50 fib, now im expecting continuation to dowside and market to form a new lower low on the daily. We will be waiting on 4hr timeframe for market to break this counter trendline and form new bearish...
This is my view on this cross for the next few days.
Waiting for a strong breakout of the structure and the retest of the structure itself to go long
SL few pips below the lowest low and TP on Risk to Reward 1:3
I remind you that this is only a forecast based on what current data are.
Therefore the following signal will be activated only if...
☑️USD_ILS is trading in a textbook like bearish wedge
And while a move Up inside the wedge is still possible
I am expecting a bearish breakout and consequent move down
Until the pair finds support
✅Like and subscribe to never miss a new idea!✅
One of the limits for the year has been triggered by this instrument so I am long the currency pair. I typically close instruments based on weekly close so a weekly close below $3.2081 is my reason to close and potentially switch sides. This trade will be held for weeks once it goes into profit.
I got filled at $3.27153 with a SL of $3.10 with a target of...
USDILS still at deep bearish with falling wedge pattern.
we can see multiple time, this pair failed to break up 0.382 fibonacci.
We can wait at 3.2713 to enter short position with target at support falling wedge around 3.1342