Possible final bear accumulation before a mark down
Hi traders,
Here's my sentiment following my previous posts. As you can observe from the first 2 highlighted box, they are above key SR area of 108.00 and 108.500 which an increase in volume can be observed. Some stopping volume can be seen on the 2nd highlighted box. Reaching our strong supply zone at 109.200 identified with both FIbo retracement and extension, multiple rejections at this area is seen when you refer to M1, surges of bears opening shorts and closing long can be observed above this level. Awaiting for further Price volume indication to make sure it is a bear move and a trade setup. Have been loading up on shorts along the way until now.
Do comment on what you think!
Legal Risk Disclosure:
Trading foreign exchange or CFD on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work for you as well as against you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor.
Disclaimer:
Any opinions, news, research, analyses, prices or other information discussed in this presentation or linked to from this presentation are provided as general market commentary or educational information and does not constitute to investment advice. I do not accept liability for any loss or damage, including without limitations to, any loss of profit, which may arise directly or indirectly from use of or reliance on such
Here's my sentiment following my previous posts. As you can observe from the first 2 highlighted box, they are above key SR area of 108.00 and 108.500 which an increase in volume can be observed. Some stopping volume can be seen on the 2nd highlighted box. Reaching our strong supply zone at 109.200 identified with both FIbo retracement and extension, multiple rejections at this area is seen when you refer to M1, surges of bears opening shorts and closing long can be observed above this level. Awaiting for further Price volume indication to make sure it is a bear move and a trade setup. Have been loading up on shorts along the way until now.
Do comment on what you think!
Legal Risk Disclosure:
Trading foreign exchange or CFD on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work for you as well as against you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor.
Disclaimer:
Any opinions, news, research, analyses, prices or other information discussed in this presentation or linked to from this presentation are provided as general market commentary or educational information and does not constitute to investment advice. I do not accept liability for any loss or damage, including without limitations to, any loss of profit, which may arise directly or indirectly from use of or reliance on such
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.