There was break of ascending channel which broke and was then retested. I believe retracement is done now and a new downtrend is starting.
Reasons for short based on PIN BAR STRATEGY.
1. Support is now resistance.
2. Break of ascending channel
3. We can see a bearish Pin bar candlestick followed by bearish candle.
4. Price saw rejection at 21 MA forming a bearish Pin bar candlestick.
I will be looking for short opportunity on lower time frame.
JUST MY ANALYSIS. LIKE AND TELL ME YOUR VIEW ON THIS PAIR
Reasons for short based on PIN BAR STRATEGY.
1. Support is now resistance.
2. Break of ascending channel
3. We can see a bearish Pin bar candlestick followed by bearish candle.
4. Price saw rejection at 21 MA forming a bearish Pin bar candlestick.
I will be looking for short opportunity on lower time frame.
JUST MY ANALYSIS. LIKE AND TELL ME YOUR VIEW ON THIS PAIR