Actual situation
We have broken the S / R level between 1-1.14 USD.
We´ve broken the last downtrend resistance line - the red line - implies we are at the uptrend
We have risen up to S / R level 1,5 USD (2020 high) and above the line of uptrend resistance - the green line - implies we want to go higher
We successfully retested S / R level at 1 USD.
My personal view of future situtation
Now I am expecting a retest of S / R level at 1,14 USD and then bounce to the upper side of the purple wedge.
After we fully break S / R level at 1,5 USD, we retest this level and we are prepared to fully go through the green resist line
When we break the upside line of the purple wedge, we are prepared to go to S / R level at 2,4 USD, which 2019 high.
I am expecting that this break will become when we cross the line of fib. circle.
After we reach this level, there is a possibility to go even further, or retracement and test S / R level at 1,5 USD, which is also 0,5 fib. level.
We have broken the S / R level between 1-1.14 USD.
We´ve broken the last downtrend resistance line - the red line - implies we are at the uptrend
We have risen up to S / R level 1,5 USD (2020 high) and above the line of uptrend resistance - the green line - implies we want to go higher
We successfully retested S / R level at 1 USD.
My personal view of future situtation
Now I am expecting a retest of S / R level at 1,14 USD and then bounce to the upper side of the purple wedge.
After we fully break S / R level at 1,5 USD, we retest this level and we are prepared to fully go through the green resist line
When we break the upside line of the purple wedge, we are prepared to go to S / R level at 2,4 USD, which 2019 high.
I am expecting that this break will become when we cross the line of fib. circle.
After we reach this level, there is a possibility to go even further, or retracement and test S / R level at 1,5 USD, which is also 0,5 fib. level.
Comment:
at 4h timeframe successfully retested support at 1,14 USD and go through the local downtrend resistance line
Trade closed: target reached