As we can see there is a strong resistance line on the 4h chart ( pointed out by our purple arrows ) and we also have 2 very strong trendlines formed ( pointed out with red arrows is where price has respected these )
All analysis is pointing south of the border with bears well in control, we are expecting price to continue respecting this resistance level and our trendlines, so we are in a short position at the moment.... SL and TP are reserved for our clients.
Although we are in a sell position we will be keeping a close eye on the break of these 3 important levels as a break of these could see price suddenly push higher.... and we always want to take advantage whenever we can :p
All analysis is pointing south of the border with bears well in control, we are expecting price to continue respecting this resistance level and our trendlines, so we are in a short position at the moment.... SL and TP are reserved for our clients.
Although we are in a sell position we will be keeping a close eye on the break of these 3 important levels as a break of these could see price suddenly push higher.... and we always want to take advantage whenever we can :p