Possible downward movement of the pair. The price is currently in a trading formation zone with significant volume , maintaining an interesting rejection at the top of this zone, reported in indicators such as the Squeeze Momentum and MACD histogram, change of direction to bearish , together with a bearish divergence information and the loss of the strength of the previous movement indicated by the ADX . I will take advantage of this loss of strength on larger timeframes to enter into a small short trade on the pair in what I consider to be a range or decline according to my one hour timeframe strategy where the Squeeze Moentum has been showing signs of a change in direction to bearish and has lost strength according to ADX below level 23 indicating a possible range in this zone. This movement may only occur up to the EMA of 55 periods in 1-hour timeframes, but in larger timeframes, there have been large levels of overbought and divergenics that generate a greater movement in 4-hour timeframes.
Disclaimer: The views expressed are solely those of the author and do not represent the official position of Followme. Followme does not take responsibility for the accuracy, completeness, or reliability of the information provided and is not liable for any actions taken based on the content, unless explicitly stated in writing.
Leave Your Message Now