Turtle soup / bear trap / range bottom fake-out that led to the break-out on the opposite side. Strong bullish daily candlestick closed above EMAs and the resistance levels. Entering on M5 pullback at the confluence of 61.8% fib retrace and range top. Target at -27.8% of fibo retrace.
The monthly chart shows price trending down. Only for a moment it peaked above the EMA(50) what happened only once since the recorded data. The following month printed a bearish reversal candle just short of engulfing but it hasn't ended yet.
The weekly chart shows an uptrend. The price is now at its EMA(10) after a short pull-back. The reaction is muted though...
The price formed a sloping flag pattern which signifies exhaustion of the trend due to diminished angle.
Expected to test the lower boundary of the W1 channel and possibly beyond
