On a weekly graphic we can see that last two weeks closed in negative, although, specially the second week, was quite tight.
Still, we had a "Hanging man" figure two weeks ago and a Dojo last week. I´d therefore expect the forecoming week to close in negative as well.
I´d wait until the price climbs to the higher limit of the wedge and then short.
Sell order: 1245
SL: 1265 (just above 52w 38.2% and also year-to-date 100% Fibo)
TP1: 1220 (cross of several Fibo lines as well)
TP2: 1190 (cross of some historical Fibo lines + 61.8 year-to-date Fibo line is close + a cross with a huge channel line, broken earlier this month.
This setup doesn´t cancel the bullish flag forming just above the channel line and an overall bullish forecast which should continue in the next weeks
Still, we had a "Hanging man" figure two weeks ago and a Dojo last week. I´d therefore expect the forecoming week to close in negative as well.
I´d wait until the price climbs to the higher limit of the wedge and then short.
Sell order: 1245
SL: 1265 (just above 52w 38.2% and also year-to-date 100% Fibo)
TP1: 1220 (cross of several Fibo lines as well)
TP2: 1190 (cross of some historical Fibo lines + 61.8 year-to-date Fibo line is close + a cross with a huge channel line, broken earlier this month.
This setup doesn´t cancel the bullish flag forming just above the channel line and an overall bullish forecast which should continue in the next weeks
Trade active:
Trade started at 1245
Please, follow your strategy! Always!
If there is no strategy that has proven itself successful, please do not trade with real money!
If there is no strategy that has proven itself successful, please do not trade with real money!