we have a bullish butterfly forming on a critical support and resistance zone. This gives an opportunity to buy the pair.
I will be watching to enter the trade if the 20 ema is broken and retested or broken with a bullish candle.
I will be watching to enter the trade if the 20 ema is broken and retested or broken with a bullish candle.
Note
invalidation below D legNote
This is why waiting for a break and retest of 20 ema or a strong bullish break past 20 ema was needed to open an entry. The yellow region shows the trade consolidation an entry above consolidation zone would have triggerred our buy order
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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.