The general price movements is in major-descending-channel after confirm the support and resistance level.
the price pulled back from the Resistance-level of the Major-descending-channel, there's potential of consolidation around (0.74682 and 0.74495) area because the price got rejected multi-times between these areas while the current state of the price shown that it's Oversold which increases the possibility of potential consolidation and the volume shown no signals of potential breakouts yet, the price may fall under the Support-level of the Consolidation-area and keep making Fakeout's and turn back to the area, So, The deal now is to wait for real signal of breakout so we can go Short and trade following the general price movements after breakout and getting all the confirmation of trend continuation.
⏰ Set Alert at (0.745) level in order to catch the next Short movements after breakout & getting all the Confirmations.
- HQ Chart: https://ibb.co/WsNbS7K
- Original post:- https://stocktwits.com/itsFiras/message/177610138
the price pulled back from the Resistance-level of the Major-descending-channel, there's potential of consolidation around (0.74682 and 0.74495) area because the price got rejected multi-times between these areas while the current state of the price shown that it's Oversold which increases the possibility of potential consolidation and the volume shown no signals of potential breakouts yet, the price may fall under the Support-level of the Consolidation-area and keep making Fakeout's and turn back to the area, So, The deal now is to wait for real signal of breakout so we can go Short and trade following the general price movements after breakout and getting all the confirmation of trend continuation.
⏰ Set Alert at (0.745) level in order to catch the next Short movements after breakout & getting all the Confirmations.
- HQ Chart: https://ibb.co/WsNbS7K
- Original post:- https://stocktwits.com/itsFiras/message/177610138