In this video, I take a look at the Bullish and Bearish Scenarios that could unfold at the major Downtrendline of the Daily Chart – an area that can present many decision-making problems for traders!
The analysis therefore explains the signals that are still needed to confirm the start of an Uptrend above this area to justify opening Long Positions – despite the Bullish Candle that has closed above the Trendline! I also explain the Bearish Signals that are required from the Pair and the key boundary that has to be broken in order to indicate the resumption of the Downtrend.
GBP CHF DAILY CHART BULLISH AND BEARISH SCENARIOS
Key Technical Factors
1. Once the market has returned to a major Trend Line, you have to consider both the Bullish and Bearish Scenarios;
2. A Bullish Close above a Downtrend Line is not a sufficient condition to justify trading Long.
3. A Bearish Signal at a Downtrend Line is also not a sufficient condition to start or continue trading Short.
4. We have to determine the Bullish and Bearish Signals that are appropriate for the setup being traded.
(M.Sc. Economics, B.Sc. Management and Economics)
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