$GLM Analysis in progress.
The recent recovery couldn't hold above the resistance level and sellers are stepping in to regain control. Lower highs and declining momentum indicate that another bearish move could develop from this zone.
Short setup:
Entry zone: 0.1090 - 0.1105
TP1: 0.1070
TP2: 0.1050
TP3: 0.1030
TP4: 0.1000
SL: 0.1135
Unless buyers reclaim the recent highs, the path of least resistance remains downward with room for a deeper correction.
Sell and trade!
The recent recovery couldn't hold above the resistance level and sellers are stepping in to regain control. Lower highs and declining momentum indicate that another bearish move could develop from this zone.
Short setup:
Entry zone: 0.1090 - 0.1105
TP1: 0.1070
TP2: 0.1050
TP3: 0.1030
TP4: 0.1000
SL: 0.1135
Unless buyers reclaim the recent highs, the path of least resistance remains downward with room for a deeper correction.
Sell and trade!