Analysis:
Price presented a strong rejection from the resistance after completing the 5th wave in this rising wedge setup.
A breakout was also presented at a previous resistance, creating a range for a downside movement or an ABC correction
Key Factors
-Rejections from the resistance after completing the 5th wave
-Breakout below the zone with strong bearish movements, requires to regain support above 109.8 for further upside recovery
-Rising wedge structure was also formed and a potential for an ABC correction towards the support
Entry Conditions:
-Sell at zone once rejections and confirmations are presented
-Target at support zone (C) and stops above current resistance zone
Invalidation of setup above the current zone if price breaks through and creates support above the level
Price presented a strong rejection from the resistance after completing the 5th wave in this rising wedge setup.
A breakout was also presented at a previous resistance, creating a range for a downside movement or an ABC correction
Key Factors
-Rejections from the resistance after completing the 5th wave
-Breakout below the zone with strong bearish movements, requires to regain support above 109.8 for further upside recovery
-Rising wedge structure was also formed and a potential for an ABC correction towards the support
Entry Conditions:
-Sell at zone once rejections and confirmations are presented
-Target at support zone (C) and stops above current resistance zone
Invalidation of setup above the current zone if price breaks through and creates support above the level
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.