After reaching the target price at the broken trendline and monthly pivot point, the market has formed a doji candlestick, indicating indecision among market participants. This doji, followed by a bearish continuation pattern, suggests that the market may be poised for a further decline.
To capitalize on this potential bearish move, we may consider entering short positions with targets at the initial support level. This level has been previously tested and may act as temporary support before the market breaks down further to 1.62555.
Additionally, we may consider placing stop-loss orders above the recent doji high to limit our potential losses in case the market unexpectedly rallies.
Additionally, we may consider placing stop-loss orders above the recent doji high to limit our potential losses in case the market unexpectedly rallies.
