As we can see that the asset is simply following its all the conditions , like it went for the double top then from there it came down from the resistance.
Now following the box, It is going to show a down side as given by the Bearish Candle, But it might also go for the resistance line.
I will take the sell trade here because it seems to be a great...
As we can see clearly that in my chart the market gave the red candle before closing.
I know the market was volatile on Friday but looking at the previous factors we can say that the asset usually falls from this area and the another confirmation is the Resistance line which threw the market back from this point.
It seems that the asset has travelled a lot in bearish trend and it is the time for the bulls to return, and as seen today i.e.; on Monday the bulls are returning.
No more selling; it's time for the correction in the market.
Bears are trying their best to pull market back to the correction, as we had seen a great jump in the asset in past few days;
Now it's the time to bring back the market for correction.
1.2100 is the expected target but the traders can do the partial booking before also and use a trailing stoploss if possible or trail it manually.
As we can see that market is following its trend line and at the same time the rejection is also made on last saturday, So we can expect a proper uptrend now,
make a buy on monday
When the daily candle closes above 1.9526 then move SL to entry
Wait for the Monday candle to close, if it is a strong bearish candle as shown in the graph then it is the sell opportunity,
else if it goes above the trend line either on monday or tuesday then it is the chance to buy and the next target is going to be 1.395 from there it may retrace a bit but when seen strong bullish it means 1.41.
Monday's candle plays an...
There are certain chances for market to retrace for a bit and break the trend, but it will be back from its resistance.
Wait till the market closes above the 1.2188 to open a buy trade else put a buy lim on 1.2055.
Buy Lim. 1.2055
Stop loss 1.2015