Currently in a bullish trend, now pullback after parabolic move.
Confluence of resistance, 50mA and previous upward trend line could be a good place for price to bounce-back.
Enter in the highlighted area on bullish reversal candle.
So after last weeks better than expected results for the Chinese economy, the price broke out parabolically of its uptrend.
As you can see on the weekly TF, the price is currently at all-time highs and has twice previously been at this level and rejected. I expect there to be some selling pressure at this price point.
Always difficult to accurately predict the...