From a daily perpective, price has clearly rejected the resistance zone and has created a historical double top.
Price is also at a support zone and we can see a break in support
Since market price moves in waves, the price can break the support and retest the broken support before making a move to the target of 0.61764 (PLEASE HIT THE LIKE BUTTON AND COMMENT WHAT YOU HAVE IN MIND TO SUPPORT )
With this 200 pips can be caught.
Also we see there are two uptrend lines which acts as a support, one has been broken, with a few candles the other will be broken. If this happens we can confirm with the strategy used to initiate a short position
Entries will be initiated using one hour or four hour timeframe.
(PLEASE HIT THE LIKE BUTTON AND COMMENT WHAT YOU HAVE IN MIND TO SUPPORT )
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Hello traders, from the analysis days ago we see price rejected the zone and shot to the resistance zone.
If price is to break the resistance zone we can adapt to a long position.
Feel free to like, share and drop a comment below.
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AS PROFESSIONAL TRADERS WE NEED TO ADAPT TO THE MARKET CONDITIONS.