So after last weeks better than expected results for the Chinese economy, the price broke out parabolically of its uptrend.
As you can see on the weekly TF, the price is currently at all-time highs and has twice previously been at this level and rejected. I expect there to be some selling pressure at this price point.
Always difficult to accurately predict the depth of the pullback, but back towards the top of the trend line seems like a decent target.
Look for reversal candles before entering the sell position.
All the best
As you can see on the weekly TF, the price is currently at all-time highs and has twice previously been at this level and rejected. I expect there to be some selling pressure at this price point.
Always difficult to accurately predict the depth of the pullback, but back towards the top of the trend line seems like a decent target.
Look for reversal candles before entering the sell position.
All the best