We continue to hold our SELL positions mainly because bearish momentum is still very high in the market. Nevertheless, we need to be aware of the fact that price is approaching the previous resistance zone which may become the new support zone . We may close our SELL positions when price starts to show signs of bullish momentum or reversal at the zone.
However, if...
We continue to hold our SELL positions mainly because bearish momentum is still very high in the market. Nevertheless, we need to be aware of the fact that price is approaching the previous resistance zone which may become the new support zone. We may close our SELL positions when price starts to show signs of bullish momentum or reversal at the zone.
However, if...
Price is currently in a descending triangle . There is also a head and shoulder pattern formation underway which confirms a trend change is about to happen. Price is currently on the temporary support level .
Wait for a retest of the downward trendline for your entry or a break of the neckline.Use the fibonacci retracement tool to enter at the 61.8% level.
Never...
