It seems that buy zone appeared at the current price. Looking at D1 and H4 charts, there is a strong support area at the current price. Breaking it down into H1 and M30 charts, there is a formation of descending channel followed up with H&S pattern and the current price sitting at the strong support of D1 and H4 charts as well as sitting on the descending trendline, further backed up by the fact that the price has been respecting 50 SMA in H1 not forgetting that MACD divergence has appeared in M30, a short term long would be reasonable and foreseeable.
Traders! if you like my ideas and do take the same trade, please write it in comment so we can manage the trade together.
Disclaimer
Please note that the content on this analysis is my view on the market and is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent trading decisions.
Traders! if you like my ideas and do take the same trade, please write it in comment so we can manage the trade together.
Disclaimer
Please note that the content on this analysis is my view on the market and is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent trading decisions.
Trade closed: target reached