This market should be added into a watchlist. The price reached SMA100 and the price action in this zone will be able to give us trading opportunities.
We should expect two possible signals from this zone like a breakout or a reversal. If the market can break the resistance line, it will give us a signal for buying based on the daily timeframe. RSI and MACD are going to support the further upward movement.
The alternative can be the bouncing from this resistance zone. The market will be able to form a lower swing high, and it will be a signal telling about the falling to the uptrend line. The breakout below 126.00 level will give a selling opportunity based on the daily or hourly timeframes.
Stop orders for all trades can be placed using local swing high/lows. Profit targets should be at the support and resistance levels.
We should expect two possible signals from this zone like a breakout or a reversal. If the market can break the resistance line, it will give us a signal for buying based on the daily timeframe. RSI and MACD are going to support the further upward movement.
The alternative can be the bouncing from this resistance zone. The market will be able to form a lower swing high, and it will be a signal telling about the falling to the uptrend line. The breakout below 126.00 level will give a selling opportunity based on the daily or hourly timeframes.
Stop orders for all trades can be placed using local swing high/lows. Profit targets should be at the support and resistance levels.
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💎 Share My BEST Trades here 👉 bit.ly/wubits