Hello, everybody, and welcome to my TradingView’s profile, my name is Gianni and today I’m going to analyse the asset, translating the market information by using a full technical analysis on different time frames, giving you a personal opinion about the next most likely market movement and helping you to spot and manage market opportunities.
My ideas are for those who are interested in improving their financial education and for those who are looking for new trading opportunities, according with their own strategies.
Monthly timeframe:
Weekly timeframe:
Daily timeframe:
4 hours timeframe:
The market is currently following a descending channel and as you can see on the chart, at the beginning of this channel, the most trading activity was on the higher part, clue that the buyers were still trying to push the price up.
Recently the view is changed, in fact sellers now seem to be very aggressive, just look how quickly they reject the price!
When, where and why would I step into the market?
Considering the recent trading activity on the lower part of this dynamic value area, I will be only looking for sell positions.
I will patiently wait a price retracement back to the higher value of the channel and only in that moment (if it will happen), I will be looking for a bearish price action and a good entry point with a RRR of 1:2 or greater.
My SL would be above the channel and my first TP around the middle line.
If you enjoy this trade idea, please support my work with a thumb up and don’t forget to follow my profile for more detailed market analyses!
Trade safe and responsibly,
Gianni
DISCLAIMER
Please note the views are not investment advice and should be used only for educational purpose
My ideas are for those who are interested in improving their financial education and for those who are looking for new trading opportunities, according with their own strategies.
Monthly timeframe:
Weekly timeframe:
Daily timeframe:
4 hours timeframe:
The market is currently following a descending channel and as you can see on the chart, at the beginning of this channel, the most trading activity was on the higher part, clue that the buyers were still trying to push the price up.
Recently the view is changed, in fact sellers now seem to be very aggressive, just look how quickly they reject the price!
When, where and why would I step into the market?
Considering the recent trading activity on the lower part of this dynamic value area, I will be only looking for sell positions.
I will patiently wait a price retracement back to the higher value of the channel and only in that moment (if it will happen), I will be looking for a bearish price action and a good entry point with a RRR of 1:2 or greater.
My SL would be above the channel and my first TP around the middle line.
If you enjoy this trade idea, please support my work with a thumb up and don’t forget to follow my profile for more detailed market analyses!
Trade safe and responsibly,
Gianni
DISCLAIMER
Please note the views are not investment advice and should be used only for educational purpose
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