Seeing multiple traders posting to enter a buy trade.I say the opposite and this is why.
-4hr and Daily charts are in a downtrend
-Rising wedge structure on 4hr chart
- Resistance in the yellow zone twice, expecting a third time resisting this zone.
-20,50 ma currently crossed showing possible dt but waiting for another cross due to the rising wedge structure needing one more pullback in yellow zone from the current DT
-4hr chart MACD indicator has the MACD line cross under the signal line, exepecting it to cross again due to the market likely going back up to resistance zone around 1.11425 before dropping down to previous support zone in orange, at 1.08172
This is my analysis so please trade with caution.
-4hr and Daily charts are in a downtrend
-Rising wedge structure on 4hr chart
- Resistance in the yellow zone twice, expecting a third time resisting this zone.
-20,50 ma currently crossed showing possible dt but waiting for another cross due to the rising wedge structure needing one more pullback in yellow zone from the current DT
-4hr chart MACD indicator has the MACD line cross under the signal line, exepecting it to cross again due to the market likely going back up to resistance zone around 1.11425 before dropping down to previous support zone in orange, at 1.08172
This is my analysis so please trade with caution.