A rounding bottom has defined very clearly. Once the price is outside the descending black trendline we would expect to see a strong bullish move, also as you can see price is already above ema 200 and wma 300 which is a good sign that the market is likely for it go higher, just likely.
That being said, we will wait for the price to be outside the trendline to procede in a long trade. I'll update my trade entry with expected TP and SL once the confirmation is given.
Good luck and If you liked this analysis please give me a like, thank you!!
That being said, we will wait for the price to be outside the trendline to procede in a long trade. I'll update my trade entry with expected TP and SL once the confirmation is given.
Good luck and If you liked this analysis please give me a like, thank you!!
Comment:
As we can see, price was unable to pull through the descending trendline. Therefore there's no trade until confirmation is given.