GXS is having a rough couple of months but it stopped downside price action and after consolidation period it started an uptrend which is reinforced by the 20 day ema.
If we breakout below the trendline and 20 day ema it may form another cup pattern. Also Decreasing volume is not a good sign for bulls. It seems there isnt enough volume and buying power for upside momentum. But it doesnt necessarily mean that price will breakout to the downside rapidly. I think even if price go lower we have time to act accordingly. We better watch for atleast another candle before making any trade decision.
Good luck and be responsible with your hard earned money!
Always watch out for opportunities but be careful.
If we breakout below the trendline and 20 day ema it may form another cup pattern. Also Decreasing volume is not a good sign for bulls. It seems there isnt enough volume and buying power for upside momentum. But it doesnt necessarily mean that price will breakout to the downside rapidly. I think even if price go lower we have time to act accordingly. We better watch for atleast another candle before making any trade decision.
Good luck and be responsible with your hard earned money!
Always watch out for opportunities but be careful.