Hi there,
I have my eye on this buy opportunity.
I think the resistance has broken at 1.99. Also, I think the consolidation is no longer valid because the price has broken out.
In these situations, I wait for the retest on the support/resistance area. The only thing I miss is the confirmation of the Fibonacci. This makes the trade riskier.
In addition, a similar outbreak could also be a trap to screw people who go long. Therefore, always do your own research and use good risk management.
I have my eye on this buy opportunity.
I think the resistance has broken at 1.99. Also, I think the consolidation is no longer valid because the price has broken out.
In these situations, I wait for the retest on the support/resistance area. The only thing I miss is the confirmation of the Fibonacci. This makes the trade riskier.
In addition, a similar outbreak could also be a trap to screw people who go long. Therefore, always do your own research and use good risk management.