empty
 
 
13.05.2022 12:25 PM
NEARUSD, Bearish Momentum | 13th May 2022

This image is no longer relevant
On the H4, with price moving below the Ichimoku cloud, we have a bearish bias that price will drop to our 1st support at 5.678 in line with the horizontal swing low support from our 1st resistance at 10.456 in line with the horizontal swing high resistance. Alternatively, price may break 1st resistance structure and head for 2nd resistance at 11.279 where the horizontal swing high resistance is.

Trading Recommendation

Entry: 10.456

Reason for Entry:

Horizontal swing high resistanceTake Profit: 5.678

Reason for Take Profit: Horizontal swing low support

Stop Loss: 11.279

Reason for Stop Loss:

Horizontal swing high resistance

Dean Leo,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback