Hi Traders! The market is moving in a shortterm Downtrend, but it is actually
in a longterm (daily) symmetrical Triangle. Please consider the screenshot for more details.
If you have any questions, don’t hesitate to write them into
the comments or to make a message.
Also, if you want more information about any detail above. — The market broke out of this important Consolidation.
We can see the bearish strength based on the last strong Down-Movement. But not everyone got into this trade.
And as we don’t want to chase the market –> we have to wait for a Pullback. The question is: Where is the next Area to get in? Of course, one possibility is to wait for the retest of the Support Break.
But sometimes – or even often – the market doesn’t pullback so much
– and especially during times of high bearish momentum. An alternative is to consider the Trendline.
We have three points from where the market turned (in the consolidation), which are all at one
line – so we draw this descending Trendline. This could be a possible Entry, which is a logical Entry, a Pullback and on a reachable distance.
Thanks and successful Trading :-)!