TECHNICAL ANALYSIS
1. On the daily frame, a clamp pattern appears, although the last day candle is bearish , signaling a downtrend next week (can be a real down or a recovery). Pay attention to the last candle of the week and see that although it is a bearish candle, the real body of this bearish candle is small. Personally, BIN does not think it can go down deep, but rather a wave in the next week to get the momentum to skyrocket.
2. Switch to the H4 frame and see. Exactly there is a bearish signal by the price rejection reaction on the H4 frame (by the symbolic candlestick set on the picture).
CONCLUDE
1. The most likely trend next week is a return to gain momentum. So watch buy order
2. Where did they return? There are some areas to pay attention to that is the green circled BIN (1.30684) or 1.30265 or 1.30081.
3. So where to put stop loss (stop loss)? Put the stop loss (SL) below the 1.29966 conflict zone or, just for safety, go below 1.29858.
4. Target price (target) to where? There are two levels: 1.32341 (nearest old high) or 1.34578
5. Risk management by 1% of the account.
Risk warning, disclaimer: the above is a personal market judgment based on published information and historical chart data on Tradingview, all analysis is only subjective. Hope investors consider, I am not responsible for your investment decision. Thank you.
Good luck!
1. On the daily frame, a clamp pattern appears, although the last day candle is bearish , signaling a downtrend next week (can be a real down or a recovery). Pay attention to the last candle of the week and see that although it is a bearish candle, the real body of this bearish candle is small. Personally, BIN does not think it can go down deep, but rather a wave in the next week to get the momentum to skyrocket.
2. Switch to the H4 frame and see. Exactly there is a bearish signal by the price rejection reaction on the H4 frame (by the symbolic candlestick set on the picture).
CONCLUDE
1. The most likely trend next week is a return to gain momentum. So watch buy order
2. Where did they return? There are some areas to pay attention to that is the green circled BIN (1.30684) or 1.30265 or 1.30081.
3. So where to put stop loss (stop loss)? Put the stop loss (SL) below the 1.29966 conflict zone or, just for safety, go below 1.29858.
4. Target price (target) to where? There are two levels: 1.32341 (nearest old high) or 1.34578
5. Risk management by 1% of the account.
Risk warning, disclaimer: the above is a personal market judgment based on published information and historical chart data on Tradingview, all analysis is only subjective. Hope investors consider, I am not responsible for your investment decision. Thank you.
Good luck!
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