Hello fellow traders Wishing everyone good luck in trading and a positive mood. . The trading instrument is
.
Daily timeframe. The price has been moving downwards for two days, and now it has touched the level zone at
1.31883 where buyers were found. There is a possibility of the price entering a long correction to work off this bearish movement. Visually, the price has clearly bounced off this zone
1.31883 in history, so it can be assumed that the price will specifically rebound from this zone now. The perspective of the long correction movement towards the breakout zone -
1.33216.
4-hour timeframe. After the breakdown into the short zone
1.31883, we see a strong bullish candle, followed by a doji, which may indicate the price's desire to go short, but we see a doji. Therefore, we might see a small short correction, followed by a continuation of the long correction. In any case, at the moment we see uncertainty in the price in this zone, which is not suitable for trading. It is necessary to wait for the specific realization of the long correction and the completion of this correction in the form of a culmination. I think this can be considered
TVH. A strong signal would be the price touching a level and forming a bearish signal in the form of a bearish engulfing or a bearish pinbar.
