As we can see daily price action is rejected at resistance zone. It closes with a pin bar.
However, Weekly price is still bullish and close above EMA 15. It is risky to take a sell trade.
Lets look down to hourly chart. Price is trending above ascending trend line. It is still...
USD GOOD DATA RECENTLY
GOOD STOCK PERFORMANCE INDICATE STRONG USD
CANDLE BOUNCE ON TREND LINE AND CREATE A PIN BAR
RSI SHOWS HIDDEN DIVERGENCE
LOWER TIME FRAME SHOWS INVERSE HEAD AND SHOULDER
LETS SEE HOW IT WORK OUT.
Possible trade setup.
Always wait for a Break of trendline and SMA 20.
There are still plenty of room to drop at higher timeframe, however if the candle show momentum and break the trend line, we can entry long with a small target and stop loss.
Welcome to discuss chart with me.