We are in a clear bearish market and going down since around 1year
The last weeks we can see a correction in direction of a previous s/r zone which was respected several times before price was able to break it down + extra confluence by a trendline with several touches.
Now again we have 2 scenarios which could happen here.
1) Price respects the s/r zone + the trendline giving us a great opportunity to go short into the bigger picture trend direction
2) Price breaks the trendline + the s/r zone to the upside telling us that the downward trend could come to an end and offer us a chance to go long in a very early stage of this new trend
I personaly prefer the short side cause its always better to go with the bigger picture trend than against it but if market tells us a long is the way to go i will not discuss with him ;-)
The last weeks we can see a correction in direction of a previous s/r zone which was respected several times before price was able to break it down + extra confluence by a trendline with several touches.
Now again we have 2 scenarios which could happen here.
1) Price respects the s/r zone + the trendline giving us a great opportunity to go short into the bigger picture trend direction
2) Price breaks the trendline + the s/r zone to the upside telling us that the downward trend could come to an end and offer us a chance to go long in a very early stage of this new trend
I personaly prefer the short side cause its always better to go with the bigger picture trend than against it but if market tells us a long is the way to go i will not discuss with him ;-)
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.