I see two possible scenarios for the price action on 15M:
1. Direct push to resistance levels - in the area with a green rectangle where all three trend lines cross.
2. Retreat to triangle's support line in red colour, bounce off and proceed to green rectangle area.
Upon reaching green rectange go Short for the next few candles on 15M.
1. Direct push to resistance levels - in the area with a green rectangle where all three trend lines cross.
2. Retreat to triangle's support line in red colour, bounce off and proceed to green rectangle area.
Upon reaching green rectange go Short for the next few candles on 15M.
Trade active:
Based on where the price action is heading TP in green rectangle should be around 60400-60700 USD.
Trade active:
Currently the price came down out of ascending wedge, therefore, the second scenario is more plausible. The price is most likely go down to 59000 USD only and may not hit the red support line. Thereafter, price should be expected to reverse and go up.
In any case, given the time interval, TP should now be expected at around 60600-60720 USD area.
In any case, given the time interval, TP should now be expected at around 60600-60720 USD area.
Trade closed: target reached
