GMT has broken its support and even got rejected from this support and resistance upon retesting.(+ double top was also formed in 4H)
So if bulls can't break resistance (which was great support once), than it might be time to short GMT.
SHORT ENTRY -->
Entry price - 3.30 or 3.31
Stop loss - 3.56
Target price - 2.76
(Don't take trades based on this idea, even I...
Trading suggestion:
". There is a possibility of temporary retracement to the suggested support line (3.414).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. GMTUSD is in a range bound, and the beginning of an uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a...
Support zone and Resistance zone are mentioned in the chart. RSI is showing it's in the range market.
StepN is quite strong fundamentally. Right now it's in the correction phase. Soon it will be touching 4 $. Long term target is 6 $.
Entry Targets are mentioned in the chart (3.13 to 3.36). Take Profit targets are also mentioned in the chart(3.7 to 4.2).
SL...
1. Ascending triangle
2. Ascending scallop
3. Bullish Pennant/Symmetric triangle (in bull run)
Market ready for next high with target 4.35-4.5 in coming days.
the price is respecting the resistance every level
would it be the case this time also will we see again rejection in this and short in price from the rejection
i am entering with small amount since the market in fear right now short may be profitable for few days
lets wait and watch
happy trading
we can see a nice beautiful bullish flag on chart
which indicates a nice bullish sign but at a same time it is forming a descending triangle
we have to wait and see in which direction the market if it breakout down than we can see a down rally till support red line
if it breakout upwards the price can even hits it all time high
STRUCTURE
--> ASCENDING TRIANGLE is a type of consolidation pattern formed after an Uptrend ( Markup Phase).
--> ASCENDING TRIANGLE is a triangular pattern with a flat horizontal Resistance on the top and a Trendline that connects atleast two Higher Low swings from the bottom to the top of the Triangle.
--> ASCENDING TRIANGLE is considered to be a ...
