The bullish bias continues, although there are indications of the formation (NOT YET CHARACTERIZED) of a bearish geometric figure.
I explain.
HIGH PROJECTION (technique using Elliot waves)
The LTB (downtrend line) has been broken and a bullish pivot is being formed whose wave 1 has already ended and wave 2 is about to close (or maybe it has already closed, it will depend on the opening of the next trading session) to see if retractive wave 2 reaches 0.5% Fibo).
This 0.5% Fibo region (which coincides with the value of the first entry) is a strong support, since the 09 period EMA and the 14 and 20 period MMA are passing exactly at this point in H1.
Considering the diversity of macroeconomic news foreseen this week (which may invalidate any study presented), I suggest the search for smaller targets, so that everyone is successful.
Stop Loss just below the start of the formation of wave 1 and the 1% Fibo retraction line.
For a more conservative bullish transaction, I recommend buying on the second entry (this is not financial advice, just personal opinion).
All prices (SL, TP, TG) are identified in the image.
LOW PROJECTION (technique using low drawing patterns)
If the study presented is not confirmed, it is very likely that a SHS figure (shoulder - head - shoulder) will develop that will take the price to much lower targets.
I recommend using this strategy and carrying out sales transactions after the stop loss price described in this image has elapsed (this is not financial advice, just personal opinion).
Remember: You are solely responsible for your profits and losses. Do not go into operation based only on this analysis, evaluate with your personal criteria and make a conscious decision. =)
Success to all!
I explain.
HIGH PROJECTION (technique using Elliot waves)
The LTB (downtrend line) has been broken and a bullish pivot is being formed whose wave 1 has already ended and wave 2 is about to close (or maybe it has already closed, it will depend on the opening of the next trading session) to see if retractive wave 2 reaches 0.5% Fibo).
This 0.5% Fibo region (which coincides with the value of the first entry) is a strong support, since the 09 period EMA and the 14 and 20 period MMA are passing exactly at this point in H1.
Considering the diversity of macroeconomic news foreseen this week (which may invalidate any study presented), I suggest the search for smaller targets, so that everyone is successful.
Stop Loss just below the start of the formation of wave 1 and the 1% Fibo retraction line.
For a more conservative bullish transaction, I recommend buying on the second entry (this is not financial advice, just personal opinion).
All prices (SL, TP, TG) are identified in the image.
LOW PROJECTION (technique using low drawing patterns)
If the study presented is not confirmed, it is very likely that a SHS figure (shoulder - head - shoulder) will develop that will take the price to much lower targets.
I recommend using this strategy and carrying out sales transactions after the stop loss price described in this image has elapsed (this is not financial advice, just personal opinion).
Remember: You are solely responsible for your profits and losses. Do not go into operation based only on this analysis, evaluate with your personal criteria and make a conscious decision. =)
Success to all!