blue trendlines on chart are counter trend breaks
when market breaks counter trendline market moves bearish
We are at trendline resistance area
market beginning to break counter trend bearish
Retail traders are heavily bullish on USD dollar
this is a sign on dollar weakness as large institution are shifting away from the dollar
Fundamentals still in favour on the dollar, until further notice the dollar could still be in a short term bear market and long term bullish market whilst the current market conditions are mere pullbacks for the long term effect
Opportunity to go short
on break of counter trendline, enter bearish
Stop loss above structure (above blue resistance)
Take profit = 3x risk
when market breaks counter trendline market moves bearish
We are at trendline resistance area
market beginning to break counter trend bearish
Retail traders are heavily bullish on USD dollar
this is a sign on dollar weakness as large institution are shifting away from the dollar
Fundamentals still in favour on the dollar, until further notice the dollar could still be in a short term bear market and long term bullish market whilst the current market conditions are mere pullbacks for the long term effect
Opportunity to go short
on break of counter trendline, enter bearish
Stop loss above structure (above blue resistance)
Take profit = 3x risk
Related publications
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.