Hello traders,
The mid-term trend is bearish but we witnessed a reversal to the bottom of the linear regression channel. the short-term trend is bullish.
There are two possible scenarios. reversing from current zone and reversing from the base zone. Remember that breaking below the 1.2650 is sign of a trend change.
In case of reversal from current zone we we could consider 1.2750 as the first TP and top of bearish channel is our final TP. But in case of any deeper correction I'll consider smaller position size and set my TP around 1.2703
The mid-term trend is bearish but we witnessed a reversal to the bottom of the linear regression channel. the short-term trend is bullish.
There are two possible scenarios. reversing from current zone and reversing from the base zone. Remember that breaking below the 1.2650 is sign of a trend change.
In case of reversal from current zone we we could consider 1.2750 as the first TP and top of bearish channel is our final TP. But in case of any deeper correction I'll consider smaller position size and set my TP around 1.2703
Note
Now search for confirmations in LTF! we might see a slight move from bottom of the channel.
Due to geopolitical situation of the world I'll close my positions before weekend.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.