As we can see from the D1 perspective, the price is in an downtrend with recent upward price correction where it is currently testing on the key zone level where fib level 61.8 is held several times since Mar21.
While as for H4, the price is in the uptrend channel, where the price still has some limited space to project upward before it touches to the upper channel trend line.
Monitor for this closing of the candle for sell confirmation. If there is a sell confirmation, look for sell opportunity till 1.5470.
Small lot recommended if want to instant sell now.
As if the price were to project with bearish movement and manage to breakdown the upper channel lower line, look for further sell opportunity till 1.5300 with SL above MA200.
Remarks from author
1)This analysis does not represent long or short trade immediately, it is solely on the author analysis
2)Trade at your own risk with proper lot sizing and follow your own trading plan
3)Risk management is always be the top priority
While as for H4, the price is in the uptrend channel, where the price still has some limited space to project upward before it touches to the upper channel trend line.
Monitor for this closing of the candle for sell confirmation. If there is a sell confirmation, look for sell opportunity till 1.5470.
Small lot recommended if want to instant sell now.
As if the price were to project with bearish movement and manage to breakdown the upper channel lower line, look for further sell opportunity till 1.5300 with SL above MA200.
Remarks from author
1)This analysis does not represent long or short trade immediately, it is solely on the author analysis
2)Trade at your own risk with proper lot sizing and follow your own trading plan
3)Risk management is always be the top priority