Using our Swing Trader-Pro indicator, we suggest that price is exhausted at this level and could resume to the downside. This area is highlighted green due to our confirmation indicators all implying a successful correction from point B to Point C and a potential reversal is on the cards.
- Key levels have been tapped
- Large candle rejection
- Currently within...
supported by a strong holding trendline, I think price will reject the top end of the trading range and come back to this trendline, but we should expect a rejection for the third time before finally breaking on the fourth touch. We will be entering on the break
price is currently trading inside this ascending channel structure whilst also near our major resistance level. Should we get a reversal, we will be looking for a break of this channel pattern and also look for a correction further down to add entries
After refreshing our chart on this pair it still seems likely for a potential long term short position. Third touch on this resisting trendline should be enough to force a harsh rejection down to complete the overall trading range/ structure
expecting price to respect this current wedge pattern and continue down to our supporting trendline. hopefully we see a rejection followed by a breakout of the wedge and continue higher to the top end of the main trading range.