Hello Traders,
You will see that we have a triangle pattern forming.
Currently the market has been consolidating for quite some time. We are likely going to see a break of this soon.
I anticipate that this will be to the downside and this is why we are looking to enter short positions at the resistance level (marked in red).
I believe that we will continue to the downside because the weekly and daily time frame suggest we are in a very bearish market.
Thanks all,
You will see that we have a triangle pattern forming.
Currently the market has been consolidating for quite some time. We are likely going to see a break of this soon.
I anticipate that this will be to the downside and this is why we are looking to enter short positions at the resistance level (marked in red).
I believe that we will continue to the downside because the weekly and daily time frame suggest we are in a very bearish market.
Thanks all,