Two things may occur:
First, a downtrend condition which is confirmed after breaking the uptrend (green line). In this case, the pair moves in the purple channel.
Second, an uptrend if the pair makes a high (break and close) above the resistance zone (red line).
Anyway, I have chosen the first case ;-).
First, a downtrend condition which is confirmed after breaking the uptrend (green line). In this case, the pair moves in the purple channel.
Second, an uptrend if the pair makes a high (break and close) above the resistance zone (red line).
Anyway, I have chosen the first case ;-).
Trade active
The 2nd target is reached at April 12.
Now I am going short for the target 109.6