- Downtrend continues...
SHORT SCENARIO:
- Looking for TC off of 21, descending TL, IT @ 1.7231.
- Need to be aware of aggressive TL resistance that has been broken. Any price targets will take this into account
LONG SCENARIO:
- None at this stage. No decent support for price to move off, and no real weakness yet showing in PA. Also:
- prev. IB broken downwards....
- No MACD divg.
- H1 may develop into 3 sisters for a long trade...H4 TF yet to support such a move so won't trade this based on H1 alone.
SHORT SCENARIO:
- Looking for TC off of 21, descending TL, IT @ 1.7231.
- Need to be aware of aggressive TL resistance that has been broken. Any price targets will take this into account
LONG SCENARIO:
- None at this stage. No decent support for price to move off, and no real weakness yet showing in PA. Also:
- prev. IB broken downwards....
- No MACD divg.
- H1 may develop into 3 sisters for a long trade...H4 TF yet to support such a move so won't trade this based on H1 alone.