It is set-up for short position based on the following :
- recent bearish trend
- ABC pattern where C stopped at 0.786 which is bearish sign
- Pair is trading below 200 EMA
- These blue rectangles are showing GAP's from weekly time interval
Things which are suggesting that this trade is risky:
- for the last 4 years this pair is in bullish trend
- on daily chart it bounced from 200 ema
Decide for U'rself if this one is worth the risk. R/R is not decent but it is alright
If U'r MM is on decent level I assume it is worth a risk but if U don;t have solid MM then I would suggest to avoid this trade as it can wipe U'r account out.
- recent bearish trend
- ABC pattern where C stopped at 0.786 which is bearish sign
- Pair is trading below 200 EMA
- These blue rectangles are showing GAP's from weekly time interval
Things which are suggesting that this trade is risky:
- for the last 4 years this pair is in bullish trend
- on daily chart it bounced from 200 ema
Decide for U'rself if this one is worth the risk. R/R is not decent but it is alright
If U'r MM is on decent level I assume it is worth a risk but if U don;t have solid MM then I would suggest to avoid this trade as it can wipe U'r account out.