Some more price action has appeared which has given us more of an indication as to what may happen next. We are seeing a descending wedge, which is often a reversal pattern. Looking for ICP to make one more move down before we load up for buys!
Short Term Trade Idea (SHORT):
- Watch for a break of the ascending trendline on lower timeframe
- Enter with stops above the recent correction highs
- Target the 10-12 area
Swing Trade Idea (LONG):
- Watch for strong bullish pressure at the -0.618 level (10-12)
- Enter with stops below that level
- Safe entry after the break of the descending wedge
- Target the recent highs as first target and hold the rest!
Let us know what you think. Goodluck!
Short Term Trade Idea (SHORT):
- Watch for a break of the ascending trendline on lower timeframe
- Enter with stops above the recent correction highs
- Target the 10-12 area
Swing Trade Idea (LONG):
- Watch for strong bullish pressure at the -0.618 level (10-12)
- Enter with stops below that level
- Safe entry after the break of the descending wedge
- Target the recent highs as first target and hold the rest!
Let us know what you think. Goodluck!