Two ascending support trend lines with an increasing angle. Looking for a 3rd touch of the second trend line to confirm support.
IF there is a upward break of the price range - 6.912 -> 6.9325 AND there is a retracement and retest of the upper area of the price range
THEN look for buy opportunity.
Good morning traders, this currency pair is currently in a descending channel so I expect it to sell for few easy pips, we do have a clear rejection of higher prices and a doji bar forming on the current trend line on the 2h chart. My stop is at 6.9165 and TP at 6.85. always do your own research before placing a trade.
38.2% & POSSIBLE 61.8% Retracement SHORT GWAVE.
POSSIBLE E7 GWAVE EUCLIDEAN STRUCTURE FORMING.
FIB Retracement Percentage is calculated in a Higher Euclidean Dimension.
PLEASE ALWAYS WAIT FOR STOCHASTIC CONFIRMATION!!! THANKS
As you can see in the 1 hr timeframe, you'll see a downward trend emerging in a WXYXZ pattern with the Z hopefully play part in the formation.
Also drawn on the chart was a green support zone which indicates the market moving to the uptrend as the previous candles are touching this support line approximately 4-5 times.
This gives me enough indication that the...