There are numerous confluences that indicate that the pair may be going long
Here's why;
- Price is at a major weekly support level
- There is an M formation and hence we are waiting for the restest of the neckline at 1.9125
- There is a strong closure break out candle on the 4h. It has broken past 1.9020 which is a major liquidity level. I am waiting for a retest of the region before going long
- The 4h region is also a support level on the 1h timeframe. Waiting for a retest before price starts going North.
Here's why;
- Price is at a major weekly support level
- There is an M formation and hence we are waiting for the restest of the neckline at 1.9125
- There is a strong closure break out candle on the 4h. It has broken past 1.9020 which is a major liquidity level. I am waiting for a retest of the region before going long
- The 4h region is also a support level on the 1h timeframe. Waiting for a retest before price starts going North.
Trade closed: target reached:
WENT EXACTLY AS PLANNED