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SKL/USDT (Futures) Potential Downward Movement

SKL/USDT (Futures) Potential Downward Movement

Key Resistance Levels: 0.11705, 0.12219, 0.13494.

Key Support Levels: 0.09856, 0.09251, 0.09000.

Daily Time Frame:

The price on the higher time frame is in a clear downward movement where higher lows and lower lows has been posted. Yesterday the market posted an engulfing bearish pattern signaling that the sellers are still in control of the market and might push it further to the downside.

SKL/USDT (Futures) Medium-Term Trend: Bearish

1-Hr Time Frame:

On the lower time frame, the sellers succeeded to break the support level (now resistance) around the 0.10652 USDT mark. A higher correction has been posted and a small inside bar has been left. This could lead to a new bearish impulsive wave toward the target profits.

Sell Market Order @ 0.10652

TP 1 @ 0.09842

TP 2 @ 0.09251

Stop Loss @ 0.11057

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

4 comments

  1. This one hit the SL

  2. Again this trade can not be taking because my mt4 platform does not have it. The only pair I have under (Futures) is (Dollar). So how can trade the signal (SKL/USDT)

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