Timeframe: 15M
Main Scenario: The rate should drop further if it will make a valid breakdown below the lower median line (lml) of the ascending pitchfork.
Alternative Scenario: A false breakdown below the lower median line (lml) it will signal a potential upside movement.
Entry/Stop Loss/ Take Profit: Short from 7540 level, the Stop Loss could be placed above the former high, at 7631 and the Take Profit at 7260.6 level
Duration: 1 day
Consolidation/Ratification level: You can drag the Stop Loss below the opening price if the rate will close and will stabilize below the 7469.5 level.
Warning Level: A failure to reach the 7469.5 former low could signal an oversold.
Risk Management: Risk/Reward Ratio: 3.07
Main Scenario: The rate should drop further if it will make a valid breakdown below the lower median line (lml) of the ascending pitchfork.
Alternative Scenario: A false breakdown below the lower median line (lml) it will signal a potential upside movement.
Entry/Stop Loss/ Take Profit: Short from 7540 level, the Stop Loss could be placed above the former high, at 7631 and the Take Profit at 7260.6 level
Duration: 1 day
Consolidation/Ratification level: You can drag the Stop Loss below the opening price if the rate will close and will stabilize below the 7469.5 level.
Warning Level: A failure to reach the 7469.5 former low could signal an oversold.
Risk Management: Risk/Reward Ratio: 3.07