Hi guys,
New to trading and am looking for an opinion on the chart attached.
Trend line has been hit with price beginning to continue on the downtrend. RSI level has been hit and is beginning to retrace. Looking to short with SL above trend line tomorrow morning. Daily chart also shows its also hit the trend line and has formed a hammer.
OR
Moving the trend line slightly upwards shows that the trend line may have been broken, with it now being used as a support. Also a bullish trend line forming on the 4hourly.
Given this info, would you say its a buy or sell??
Thanks
New to trading and am looking for an opinion on the chart attached.
Trend line has been hit with price beginning to continue on the downtrend. RSI level has been hit and is beginning to retrace. Looking to short with SL above trend line tomorrow morning. Daily chart also shows its also hit the trend line and has formed a hammer.
OR
Moving the trend line slightly upwards shows that the trend line may have been broken, with it now being used as a support. Also a bullish trend line forming on the 4hourly.
Given this info, would you say its a buy or sell??
Thanks