Will be a new impulse to the dowside before we go to the upside?
Hey traders, what do we have today? EURAUD chart - very simple PA. According to my previous post here
We made a nice profit and already broke our resistance zone as well (go check out related idea below)
So now we clearly see that new impulse to the upside was already formed and bull flag (continuation pattern) was formed as well! Is it exact area for buying opportunity now? Or do we have to wait a little bit more? Me personally will take into account our second variant about Staying PATIENT. Have a look on 4H timeframe and check who is in control of the market for now, we have definitely a big pressure from the bears (according to candlestick formation). But potentially the new HL formation will appear, so patiently waiting for deeper correction before new impulse to the upside will appear.
So now we clearly see that new impulse to the upside was already formed and bull flag (continuation pattern) was formed as well! Is it exact area for buying opportunity now? Or do we have to wait a little bit more? Me personally will take into account our second variant about Staying PATIENT. Have a look on 4H timeframe and check who is in control of the market for now, we have definitely a big pressure from the bears (according to candlestick formation). But potentially the new HL formation will appear, so patiently waiting for deeper correction before new impulse to the upside will appear.
