I'm looking at this short trade as we continue to trade below the EMA50. Some very interesting market structure here, and we can see a potential breakdown of this descending triangle. However, we need to be careful as we have a very strong support level (major 0.88 fibo) just below the breakout level.
***This is not investment advice and is simply an educational analysis of the market and/or pair. By reading this post you acknowledge that you will use the information here at YOUR OWN RISK
评论
⋅
Crossing out confirmation line! Daily candle close will confirm.
评论
⋅
Now at support. This selloff has been aggressive, and it will escalate once the support level is confirmed broken.
评论
⋅
Daily candle has now closed below support level:
评论
⋅
We're approaching the edge of the trading range at $35 so things may need to consolidate before further bloodletting to approx. $20.
评论
⋅
MAN this market moves fast... but we need to consolidate a bit in order to hit our target.
评论
⋅
HIT TP! Cheers,!
交易结束：到达目标
⋅
评论
⋅
Still sinking in this pair.
评论
⋅
Breakout!
评论
⋅
Fakeout! And we've even rallied above the invalidation level for a short trade. Is this is a bull trap?