Obsersavation
1) Uptrend - Still above the uptrend line. Cut loss it break below 2.05
2) HH - Formed Higher HIgh and now retracing back to the previous HL at 1.89.
3) MACD - Downtrend after Negative signal already cut the blue line
4) RSI - Cut below the Overbought and retracing - Not good
5) ADX - SIgnal at 63 and showing bearish. Still counter highly to retrace at a very fast pace.
Conclusion
This counter might retrace 1.89 and let see if there is any reversal sign on the candle stick or indicator, If it reverse and have a high low above 1.89 then we can see another bull run again..
No comments:
Post a Comment