Weekly: Broke above the previous resistance and retested on it.
Daily: The price has created new swing high and low. Currently in an uptrend but also in a consolidation zone. MACD shows bullish strength and momentum are still there. I expect the market is bullish.
4H: The market is currently in a consolidation zone (grey box) and creating a minor buildup for breaking through the strong resistance. With the recent support of 200EMA and retracement on Fibonacci 38.2% (the green zone), the bullish momentum might breakout of the box, and create massive upside impulse.
What to do now? When to buy?
- Buy when breakout. The breakout candle has to be very bullish in order to fulfill this trading setup.
- Be patient for more volatility and liquidity in the market to trade.
Don't forget to like if you like this analysis and comment below if you have different ideas on this pair! Good luck to you, traders!
Daily: The price has created new swing high and low. Currently in an uptrend but also in a consolidation zone. MACD shows bullish strength and momentum are still there. I expect the market is bullish.
4H: The market is currently in a consolidation zone (grey box) and creating a minor buildup for breaking through the strong resistance. With the recent support of 200EMA and retracement on Fibonacci 38.2% (the green zone), the bullish momentum might breakout of the box, and create massive upside impulse.
What to do now? When to buy?
- Buy when breakout. The breakout candle has to be very bullish in order to fulfill this trading setup.
- Be patient for more volatility and liquidity in the market to trade.
Don't forget to like if you like this analysis and comment below if you have different ideas on this pair! Good luck to you, traders!
Trade closed: target reached