This chart has a bearish market structure that has chopped out into a range between the 1479 - 1498 price range.
Note the yellow bar that I've marked where price hasn't been able to break the highs and keeps falling down with aggressive bearish bars, this tells me there are more bears than bulls here but it's not set in stone. I like to react instead of predict the market moves so for now I wait. Given the current characteristics on the chart my money is on the bears. I will wait for a breakout and signal before shorting to avoid trading a false breakout.
For a bullish view I would prefer the capped trend line to be broken before considering to buy.
Don't invest what you can't afford to lose. This is not investment advice. Subjective view/report of a financial product only.
You can learn price action trading at no cost. Join my mailing list to receive more information zc.vg/sf/ZN3TE
For live updates please feel free to join Forex Bootcamp using the link below
DISCLAIMER
All information published within this website is purely for educational purposes and offers no guarantees. Profit Fx, Forex Bootcamp and any of its associates cannot be held responsible for any trades that you have executed in any way whatsoever. Please familiarize yourself with the relevant risks involved when trading forex, CFD’s and other products. Any trading is done solely at your own risk. Profit Fx, Forex Bootcamp and any of its associates are in no way employed by any broker or any other legal entity. All information published within this website does not constitute advice, but rather objective information about a financial product and analysis or report of a financial product.
Note the yellow bar that I've marked where price hasn't been able to break the highs and keeps falling down with aggressive bearish bars, this tells me there are more bears than bulls here but it's not set in stone. I like to react instead of predict the market moves so for now I wait. Given the current characteristics on the chart my money is on the bears. I will wait for a breakout and signal before shorting to avoid trading a false breakout.
For a bullish view I would prefer the capped trend line to be broken before considering to buy.
Don't invest what you can't afford to lose. This is not investment advice. Subjective view/report of a financial product only.
You can learn price action trading at no cost. Join my mailing list to receive more information zc.vg/sf/ZN3TE
For live updates please feel free to join Forex Bootcamp using the link below
DISCLAIMER
All information published within this website is purely for educational purposes and offers no guarantees. Profit Fx, Forex Bootcamp and any of its associates cannot be held responsible for any trades that you have executed in any way whatsoever. Please familiarize yourself with the relevant risks involved when trading forex, CFD’s and other products. Any trading is done solely at your own risk. Profit Fx, Forex Bootcamp and any of its associates are in no way employed by any broker or any other legal entity. All information published within this website does not constitute advice, but rather objective information about a financial product and analysis or report of a financial product.