I see an overall bullish momentum building up on this pair.
My indications of bullish movement:
Entering:
Always a personal preference, I assumed the RED levels are where it best to react.
Exiting:
Again, personal preference, although if unsure I would look towards the YELLOW levels.
Indicator located at the bottom:
I use this to see what price is doing and viewing in a line-chart if you will, and although price has crossed underneath the aqua line I am wanting to stay bullish.
Usually I wouldn't and would instead look for the opposite setup - but let's see how this plays out.
My indications of bullish movement:
- Higher Lows/Highs being created
- Support being shown on trendline
Entering:
Always a personal preference, I assumed the RED levels are where it best to react.
Exiting:
Again, personal preference, although if unsure I would look towards the YELLOW levels.
Indicator located at the bottom:
I use this to see what price is doing and viewing in a line-chart if you will, and although price has crossed underneath the aqua line I am wanting to stay bullish.
Usually I wouldn't and would instead look for the opposite setup - but let's see how this plays out.
Comment:
Price has resisted our top level - so we know in the future this will be a key area to watch - if price breaks above and holds for the long later.
If the current candle closes as a bearish engulfing I would expect another test to our lower level(s).
If the current candle closes as a bearish engulfing I would expect another test to our lower level(s).
Price has went under our trendline ignoring a retest - passed our RED level and started showing wicks at the bottom. I would like to see a retest on the upper aqua trendline with more bullish candlestick patterns.