My studies suggest that a fall is possible. Can we follow?? We are approaching a point where volume was evident and there is supply zone. On top of that a FTR setup is there.
A Double bottom is developing but I personally think it could be a trap for buyers. We are approaching a level where there was volume before a move down. Others call it a DBD area. You zoom in again you realise an SR flip formation. There could be money there but we wait to find out if really the double bottom will really materialise or not
Wr see price broke trendline and volume suggests downward momentum. A little retracement could even take us lower
We broke out of the trendline and there is some supply zone there.
We have confluence of broken trendline plus supply zone.
We could see a bearish move here following that price action
We have strong confluence of price action.
We wait for the bullish butterfly to complete on demand zone.
We are likely to see a move up following that quasimodo pattern
I am still watching the pair closely as thepair has been ranging for some days now with the moves up and down. From my point of view here, evidence suggests we could see a fall in this pair.
Risk management advised. We have supply on weekly timeframe.
Expect a move up followed by a correction move down.
We have bullish flag there. Is it powerful to push price up??
There is a fresh demand zone. Risk less, and reward big always.
WE HAVE INVERTED H&S FORMATION.
We expect a sell holding other things constant