Short Term Bearish Trend. Go Short.
The following lines are:
Blue is 4 hours Support and Resistance
Red is daily Support and Resistance
At Resistance level 1 = 1.53155, it can be considered as significant level because more sellers are seen in this position.
Past couple of days Resistance also broke hence forming a new one. Bears are attacking near the resistance point forming a bearish engulfing candle.
Support Level broke at S1: 1.52622.
Stop Loss 1.53198
Sell at 1.52933
Take Profit at 1.52484
Overall its a bearish trend LL and HL can be observed.
If new support level is formed and resistance level isn't hit then again you should go short.
Blue is 4 hours Support and Resistance
Red is daily Support and Resistance
At Resistance level 1 = 1.53155, it can be considered as significant level because more sellers are seen in this position.
Past couple of days Resistance also broke hence forming a new one. Bears are attacking near the resistance point forming a bearish engulfing candle.
Support Level broke at S1: 1.52622.
Stop Loss 1.53198
Sell at 1.52933
Take Profit at 1.52484
Overall its a bearish trend LL and HL can be observed.
If new support level is formed and resistance level isn't hit then again you should go short.
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