This currency is currently sitting on a good historical zone. Not only that, we also have some good confluences that can also help us determine the future price direction.
Confluences:
1.Price is currently testing a historical zone
Every time price action get to this zone makes a rejection.
2.Also we have a M pattern
After a M pattern we can expect a correction to the neckline.
3.Also price is over extended
When price is over extended we can expect a correction.
With this 3 confluences we get to the conclusion that the price is ready to make a retracement to the M pattern neckline
Be advised
This educational analysis is for price direction only, for entries you have to use your own strategy in lower time frames to minimize risk.
If you have any question please be free to ask me.
THANK YOU FOR YOUR SUPPORT
Confluences:
1.Price is currently testing a historical zone
Every time price action get to this zone makes a rejection.
2.Also we have a M pattern
After a M pattern we can expect a correction to the neckline.
3.Also price is over extended
When price is over extended we can expect a correction.
With this 3 confluences we get to the conclusion that the price is ready to make a retracement to the M pattern neckline
Be advised
This educational analysis is for price direction only, for entries you have to use your own strategy in lower time frames to minimize risk.
If you have any question please be free to ask me.
THANK YOU FOR YOUR SUPPORT
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