Break out is here on steem USD Hi guys
Wait for the Break out and retested at this zone and engulfing bar go for buy
STEEMUSD trade ideas
There is possibility for the beginning of uptrend in STEEMUSD Technical analysis:
. Steem/Dollar is in a downtrend and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 43.
. The RSI downtrend & The price downtrend in the daily chart are broken, so the probability of resumption of uptrend is increased.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (1.4443 to 1.1025). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (1.4443)
Ending of entry zone (1.1025)
Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing" , "Hammer" or "Valley" in other words,
NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone.
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