We can see the price now nestled against the blue 60m ema, which for now - coupled with the PP - is acting as a resistance level.
What with the green 5m trend still above the red there is a little chance of some upside momentum.
However, I am a follower of trends and since the 15m red ema is still below the blue ema, I am only interested in the selling of this market. But not yet.
What I am looking for is a break below the red ema at 9.754 and then a push lower to the black support line.
If this plays out then the green should cut back below the red, the red and blue will be nice and close and a further push south could prepare the way for a trade.
At the same time. If this price can break through the PP then there may be a further move north. Take a look at the RSI.
There's a black line indicating a double bottom.
There's quite a lot of confirmation required at the moment. The checklist is not even being observed yet.
That's what I am looking for though. A break bellow 9.754 for the time being. If it happens I will update
No comments:
Post a Comment