Price has recently been trending in downside momentum, now over the last week has been in consolidation (a descending channel with abcde correction), which it broke to the upside. Now a possible retracement (retest of the broken structure) might come and then we get a possible big move to the upside.
Scenario: Long; @(50% - 61.8%) retest of broken structure.
Stoploss: @(0.786%)
Takeprofit: @(1st(-0.272%,)(2nd(-0.618%))
Scenario: Long; @(50% - 61.8%) retest of broken structure.
Stoploss: @(0.786%)
Takeprofit: @(1st(-0.272%,)(2nd(-0.618%))
Note
Pair played out exactly as expected and analyzed.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.