Marking a promising area for sales

12.10.2021

Daily chart: another signal of a probable price reversal is received – a strong bearish reverse bar was formed from the middle Bollinger band, with the absorption of the previous session. Probably, the consolidation is completed here and the pair is preparing for a new downward impulse.

Н4: local Bollinger envelopes keep trading horizontal. The range does not exceed 75 points (1.3571-1.3645). ADX is in the extremely weak zone.

Н1: the lower hourly Bollinger envelope has been broken, therefore, after the completion of the rollback to the area of the middle band (1.3627), we can expect another series of sales.

Conclusions: an upward rollback to the 1.3627 zone, then a downward reversal in the direction of 1.3571.
Trading decisions:
1. Buying to 1.3627.
2. Selling from 1.3626 to 1.3571.