DISCLAIMER: Hi everyone, this is just a log book for me on applying everything that I have learned and continue to learn as I go along. That being said, I do not advise you to base your trading on these "ideas".
Alright so my previous two analysis on this pair has been incorrect. I was feeling bearish but price was following structure by bouncing of a mayor trendline. So lets take a look...
Weekly:
So lets take a look at this. There is an ascending trendline in the bigger picture which has been just formed by higher lows. Now at the start of July we saw the price hit that trendline and continue moving up.
Daily:
We see her that there has been some support-turned-resistance areas at the 1.00278 from June 19th and 20th and turned resistance on July 18th and closed there this week.
4hr:
On this chart we se a bit of an ascending wedge. Price holding resistance at 1.00278, but making higher lows all week. My trading plan will be to wait and see if it will break that resistance and bounce off of it for a long opportunity.
Trade safe out there and be patient!
Alright so my previous two analysis on this pair has been incorrect. I was feeling bearish but price was following structure by bouncing of a mayor trendline. So lets take a look...
Weekly:
Daily:
4hr:
Trade safe out there and be patient!
