In the daily timeframe, after a strong upward trend and reaching new highs, we've experienced the first downward movement, breaking the trend line. ð
We observe a retracement trend line, indicating the possibility of a decline after breaking the trend line and activating this trigger. ð
"In the weekly timeframe, if the candle closes in a similar manner, engulfing the previous five candles, it indicates selling pressure."â
For a short position, the trend line is currently broken, and after the trigger activates at 3.492, it's possible to open a position. â ïļ
However, it's better to have a correction after this upward movement, or to wait for some time at the support level of 3.492 for a logical and healthy trend. ð
For the ultimate target after breaking the trend line, we can consider the highest wave reached from the trend line, and it's likely that after the break, there will be a decline to that level. ðŊ
Also, note that these types of trend lines often have the possibility of retracing to the last price ceiling before the break. ð
ðž Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles.
We observe a retracement trend line, indicating the possibility of a decline after breaking the trend line and activating this trigger. ð
"In the weekly timeframe, if the candle closes in a similar manner, engulfing the previous five candles, it indicates selling pressure."â
For a short position, the trend line is currently broken, and after the trigger activates at 3.492, it's possible to open a position. â ïļ
However, it's better to have a correction after this upward movement, or to wait for some time at the support level of 3.492 for a logical and healthy trend. ð
For the ultimate target after breaking the trend line, we can consider the highest wave reached from the trend line, and it's likely that after the break, there will be a decline to that level. ðŊ
Also, note that these types of trend lines often have the possibility of retracing to the last price ceiling before the break. ð
ðž Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles.
