The long blue wave was formed at m30/H1 time frame and once successful, it will become the natural part of the major yellow structure.
As the bulls have been keeping pushing this pair up without significant resistance since 11 May 2017, the minor pattern has good chances to succeed even though currently it is not being supported by RSI divergence/volume/data.
I expect the major resistance to start only at the previous maximum area (point III*).
Opened 3 buy positions at 0.7428, SL 0.7389, TP 0.7470/0.74984
As the bulls have been keeping pushing this pair up without significant resistance since 11 May 2017, the minor pattern has good chances to succeed even though currently it is not being supported by RSI divergence/volume/data.
I expect the major resistance to start only at the previous maximum area (point III*).
Opened 3 buy positions at 0.7428, SL 0.7389, TP 0.7470/0.74984
Trade closed manually:
The wave didn't work out, even unexpectedly good trade balance data (MoM/YoY) didn't help it. All positions were closed with minimum profit.
